Business Finance Final Exam Review

Which is NOT an example of an asset?

• Children
• Cash
• Equipment
• Buildings

Which of the following is NOT one of the 4 types of risk?

• Natural
• Political
• Human
• Economic

Which of the following is owned and operated by one individual?

• Corporation
• Limited Liability Company (LLC)
• Partnership
• Sole proprietorship

Budgeting provides a guide for efficient business decisions.

• True
• False

Property acceptable as security for a loan or other obligations is called______.

• Lump Sum
• Collateral
• Foreclosure
• Installments

Risk identification requires source analysis and ______ analysis.

• Objective
• Scenario
• Problem
• Result

Which of the following forms a Board to act as a governing body and is the most complicated form of business?

• Corporation
• Limited Liability Company ( LLC)
• Partnership
• Sole proprietorship

______ covers workers who are injured or become ill due to workplace conditions.

• Group Health Insurance

• Unemployment insurance

• Liability Insurance

• Worker’s Compensation

You should review your risk management every__________

• 5 years
• Year
• Quarter
• Month

Define credit:

• Yearly membership or participation fees
• Fees for getting cash advances
• The ability to acquire money, goods, and services, from others without immediate payment.
• Loans which will be in repayment for less than an 18 month time period.