The finance department in a business is responsible for
Business Finance

Quiz
•
Business
•
11th Grade
•
Hard
Wally Salinger
Used 14+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
Recording customer and supplier transactions and preparing profit and loss statements
Providing managers and owners and the tax department with financial reports
Forcasting cashflow and working capital and use them to make financial decisions
All of the above
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Decisions about sources of capital and borrowing money are the role of the
Finance Department, CFO and Accountant
the CEO (Chief Executive Officer)
the CFO (Chief Financial Officer)
the CEO, Shareholders and the Finance Department
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Businesses need finance departments to
write cheques
reconcile earnings and expenses
to deal with all aspects of money
provide assistance to the CFO and the CEO
Answer explanation
Making money is a legal requirement of a business. No money, no finance.
No finance department.
4.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
The three main reasons businesses need money is
start up business expenses
start up, operational, expansion expenses and increase working capital
pay directors, managers and staff wages and benefits
buy materials to make products
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Start up capital is
the city in you launch your business
the cost of your new business logo and brand
the city in which your business has its bank account when you launch
finance that funds your business set up and the first year of operations
6.
MULTIPLE SELECT QUESTION
45 sec • 3 pts
Some of the finance department's tasks in business expansion would include
deciding how to fund capital purchases
details of cash, loans or equity to takeover or merge
preparing taxation and other historical financial reports
deciding on the type of new machinery to purchase
7.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
The finance department must ensure the "life blood of the business" is enough to maintain and grow business operations. What is the "life blood"?
a postitive working staff and management team
a highly successful brand that is socially and environmentally active
cash in the bank to pay expenses, including tax and shareholder dividends
available cash and liquid assets or working capital that may be used to fund daily and monthly operations
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