Which of the following are debts or obligations of a business?

• Assets

• Liabilities

• Owner's Equity

• Bonds

Which of the following is NOT a responsibility of the Finance department?

• Managing the use of company's funds

• Obtaining needed funds

• Creating a financial plan

• Establishing external relations

What type of financial statement is Revenue - Expenses = Net income (loss)

• Cash flow

• Retain Earning Statement

• Balance Sheet

• Income Statement

Assets = Liabilities + Owner's Equity is what kind of financial statement?

• Cash flow statement

• Statement of Retained Earnings

• Balance Sheet

• Income Statement

Equipment and Buildings are considered...

• Assets

• Liabilities

• Owner's Equity

• Revenue

Mortgage payable is considered...

• Asset

• Liability

• Owner's Equity

• Revenue

Which is NOT a function of Management?

• Analyzing

• Organizing

• Directing

• Planning

Katherine own a shoe store are sales are 25,000. Her sales are considered...

• Assets

• Liabilities

• Revenue

• Expenses

Jeans revenue is 50,000 her expenses are 30,000. What in her net income(loss)

• 20,000

• (20,000)

• 10,000

• 15,000

Which of the following is NOT a component of the production process?

• Creating products or services

• Selling products or services

• Manufacturing products or services

• Growing products or services