U9 Financial Management QUIZ

Individuals or companies that make a profit investing in startup companies

• Entrepreneurs

• Venture Capitalist

• Bill Gates

• Silent Partner

Property that a borrower forfeits to the bank providing the loan if he or she defaults on the loan.

• Collateral

• Secured Loan

• Unsecured Loan

• Home

Money invested in a business in return for a share in the profits from the business.

• Collateral

• Interest

• Equity Capital

• all of these

Difference in what is owned, called assets, and what is owed, called liabilities is considered:

• Net Income

• Net Worth

• Balance

• Interest

"Discount pricing" means the discount price is _____ than the original price?

• Higher

• Lower

• The Same

• none of these

If the "original price" a item is $18.00 and has a 15% discount, what is the new discounted sale price:

• $2.70

• $18.50

• $15.30

• $15.00

If the "original price" a item is $49.99 and has a 25% discount, what is the new discounted sale price:

• $37.50

• $37.49

• $12.4975

• $12.50

A financial statement that shows the "projected costs" for things such as: Equipment & Supplies, Furniture & Fixtures, Remodeling, and Salaries/Legal Fees is called a:

• Balance Sheet

• Income Statement

• Startup Cost Statement

• Payroll Sheet

A financial statement that shows the "Gross Profit, Operating Expenses, and Net Income over a year's time is a:

• Balance Sheet

• Income Statement

• Payroll Sheet

• none of the above

On a INCOME STATEMENT, if the "Gross Profit for the year is $58,200; and the "Total Operating Expenses is $13,780, and taxes is "$3,356.25" what is the "NET INCOME after taxes" amount:

• $68,623.75

• $41,063.75

• $4,106.375

• $47,776.25