Why is accounting an important part of a business?

To organize and manage a business's financial status and meet legal requirements.

To satisfy the management team and external auditors.

To determine the financial well-being of the CEO & CFO

To organize and manage the business's relationship status and meet legal requirements.

What is the agency that controls monetary policy and stabalizes the economy?

Federal Deposit Insurance Corporation

Which strategy should be used to maintain positive customer relationships?

Abide by confidentiality agreements.

Share client information with other companies.

Use confidential information for promotional efforts

Sell client information to increase profit.

In order to transfer risk that could be incurred by your business, you should....

Provide a risk-avoidance training program

You are the sales manager for XYZ Company. During a staff meeting, the owner shares a chart showing the current year's financial results for both the east and west regions of the company. The owner asks you to analyze the charts. What reflects the regions' recovery?

The western region declined less but had a great recovery.

The eastern region declined less but had a great recovery.

The eastern region declined more but had a great recovery.

The western region declined more but had a great recovery.

You are the manager of a shipping company. During the last few months, the number o injuries has risen to workers who manually load boxes onto the trucks. The company's expenses have risen due to this situation. You are assigned to find a solution. What can you provide workers to limit the number of incidents?

Increased workers' compensation coverage

You are a financial analyst for Company B. You must determine the ROI for each month of the first quarter. You must then calculate the first-quarter ROI and prepare a report for the board. The company's investable funds are $125,000. Interest rates are as follows: January: 8% February: 8.5% March: 7.25% How should you present your results?

Prepare a formal written report

Email the results to your supervisor.

Communicate verbally to your supervisor

Send the results using social media

Terri works for a small company in the payroll office. She is responsible for calculating the payroll, including verifying the accuracy of time submitted. She notices that her friend, Julie, has submitted hours for a day not worked. Julie and Erica hold the same position. Erica thinks that Julie is making more than she is and asks Terri to check on this. Company policy dictates that segregation of duties must be part of the payroll procedures. What should Terri do regarding Erica's request?

Tell Erica the information is confidential.

Tell Erica the amount after looking up Julie's hourly rate.

Tell Erica to ask Julie's supervisor.

Tell Erica that Julie is making the same amount as she is.

Terri works for a small company in the payroll office. She is responsible for calculating the payroll, including verifying the accuracy of time submitted. She notices that her friend, Julie, has submitted hours for a day not worked. Julie and Erica hold the same position. Erica thinks that Julie is making more than she is and asks Terri to check on this. Company policy dictates that segregation of duties must be part of the payroll procedures. What should Terri do regarding hours submitted by Julie?

Verify why July submitted those hours and make corrections.

Verify why Julie submitted those hours and pay her.

Process payroll using the hours submitted.

Fire Julie for fraud & report it to the authorities.

Several years ago, you attended a party and posted inappropriate pictures on social media. You applied for a position at the corporate office of a well-known bank. The HR department informs you that they check social media and asks whether you have an account. You remember that the party pictures are posted and tell them you do not have an account. Why is the bank asking about your account?

To see how you might represent the company

To determine how you manage your finances

Several years ago, you attended a party and posted inappropriate pictures on social media. You applied for a position at the corporate office of a well-known bank. The HR department informs you that they check social media and asks whether you have an account. You remember that the party pictures are posted and tell them you do not have an account. What is the most probable result of telling them you do not have an account?

The job is offered to someone else.

You are hired but you must delete the picture.

You are recommended for hire at another bank.

Several years ago, you attended a party and posted inappropriate pictures on social media. You applied for a position at the corporate office of a well-known bank. The HR department informs you that they check social media and asks whether you have an account. You remember that the party pictures are posted and tell them you do not have an account. Why is this a part of the company's screening process?

To employ people whose values reflect those at the bank.

To know more about your personal life.

You are a bank teller. A parent of your 18 year old friend, Megan, asks you to give her the balance in Megan's account. Megan has recently been in trouble and is currently incarcerated. Later, Megan calls from jail and asks you to give her the information over the phone. Can you accomodate Megan's request?

Yes, when she provides identifiable information.

No, since the request is over the phone.

Yes, with the approval of the jail authorities.

You are a bank teller. A parent of your 18 year old friend, Megan, asks you to give her the balance in Megan's account. Megan has recently been in trouble and is currently incarcerated. Later, Megan calls from jail and asks you to give her the information over the phone. If you provide the information to Megan's parent, you...

Could be disciplined or terminated.

Should write it on paper for security.

Tell Megan you gave it to her parent.

Should ask her parent not to tell.

Personal Finance - WebXam Review

Authored by Nathan Keel

Other

9th - 12th Grade

Used 24+ times

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MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is the professional designation recognized by the industry for financial planners?

Certified Professional Accountant (CPA)

Certified Public Accountant (CPA)

Certified Financial Accountant (CFA)

Certified Public Planner (CPP)

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Which document indicated that moral standards are required by a company?

Code of Ethics

Mission Statement

Profit/Loss Statement

Balance Sheet

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

You do not agree with a company policy and decide to vent on social media. What could happen as a result?

The company policy is changed

You receive a pay increase for providing input

The company contacts your parents

You receive disciplinary action from the company

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Money paid for the use of an asset over a specific time frame is called.....

Cash

Lease

Bond

Stock

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Legal tender used to purchase goods & services are called...

Cash

Lease

Bond

Stocks

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Shares of ownership in a company are called...

Dividends

Leases

Bonds

Stocks

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

A debt instrument repaid over time is called a.....

Dividend

Lease

Bond

Stock

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Personal Finance - WebXam Review

What is the professional designation recognized by the industry for financial planners?

Which document indicated that moral standards are required by a company?

You do not agree with a company policy and decide to vent on social media. What could happen as a result?

Money paid for the use of an asset over a specific time frame is called.....

Legal tender used to purchase goods & services are called...

Shares of ownership in a company are called...

A debt instrument repaid over time is called a.....

To supply with money or capital is to...

What motivational tool could be used to increase productivity?

What is the percentage of the total labor force who are not working but are actively seeking work and are willing to work?

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