Business finance

Payment made for the use of borrowed money is called

• Financial Institution
• Creditors
• Interest
• Secured

Banks provide which of the following EXCEPT

• debit cards

• loans

• check writing services

• government subsidies

A credit union...

• is a financial institution that focuses on taking deposits and using them to fund mortgages.
• is a non-profit institution owned by its members and provides financial services to its members.
• offers a broad range of deposit account and gives loans to individuals and businesses. 
• is a financial institution for students only

Commercial banks earn money in all of the following ways EXCEPT:

• Investing in other companies

• Charging fees for their services

• Collecting interest on loans

• Taking a percentage off of all deposits

Choose two answers.

Jeff wants to open a basic savings account. He should go to which two types of financial institutions to open the account.

• a financial services company

• a commercial bank

• an insurance company

• a trust company

• a credit union

Which financial institution is owned by its members?

• financial service company

• savings and loan association

• commercial bank

• credit union

Which is NOT a function of commercial bank?

• Providing financial and tax planning advice
• Print money
• Providing insurance
• Exchanging foreign currencies

What are the three types of cheques?

• Order , closed , and Open

• Open, fixed and Closed

• Open, bearer and Crossed

• Open, baked and Bearer

What is the purpose of preparing the Statement of Financial Performance?

• inform stakeholders the profitability of business

• inform stakeholders the income and expenses of business

• inform stakeholders the nature of business

• inform stakeholders the size of business

Place where sellers and buyers of stocks and bonds meet.

• Market

• Financial Market