Business Finance Long quiz

The main aim or any kind of economic activity is to earn profits

• Profit Maximation

• Wealth Maximation

It is widely accepted as the ultimate goal of a business

• Profit Maximation

• Wealth Maximation

The (a)   is the person in-charge of the entity’s treasury function.

This is type of security that signifies ownership in a corporation and represents a claim on part of the corporation’s assets and earnings.

• bonds

• stocks

• financial markets

• notes

A ___________ is a debt security in which In which an investor lends his money to an entity which borrows the funds for a defined period of time at defined interest rate.

• notes

• financial markets

• stocks

• bonds

A Financial market performs the function of channelling funds from those who have a surplus of fund to those who are in need of funds

• True

• False

Accounting is the systematic and comprehensive recording of financial transaction pertaining to a business

• True

• False

Heads of controllership function of finance

• Chief Finance Officer

• Controller

• Treasurer

Responsible to estimate the financial requirement of the business

(a)  

These include unpaid salaries for the accounting period

• accruals

• prepayments

• depreciation and amortization expenses

• allowance for uncollectible accounts