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Finance for non finance managers

Authored by Bola Martins

Professional Development

Professional Development

Used 1+ times

Finance for non finance managers
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following statement is correct regarding the Asset?

a. Identifies the net worth of the business

b. Any resource that holds economic value

c. A company’s income

d. All of the above

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

2. __________ accounts record expenses necessarily incurred to run the business.

a. Purchases accounts

b. Sales accounts

c. Overhead accounts

d. Fixed Asset accounts

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

. What is the capital account?

a. Accounts that record investments into the business.

b. Accounts that record investment in long-lasting items.

c. Accounts that record sales of the goods sold on credit to customers.

d. Accounts that record the goods purchased for onward sales to customers

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is/are the financial statement(s) every business has to issue yearly or quarterly?

Profit and Loss Statement

Balance Sheet

Cash Flow Statement

All of the above

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Is the following statement true or false?

A balance statement shows the company’s net worth at a single moment.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If the total liability of a company is £50,000 and Equity Total is £33,000. What will be Total Assets?

£46

£83,000

£330

£23,000

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following budgeting adds a specified amount into the previous budget?

Incremental budgeting

Zero-based budgeting

Imposed budgeting

Value proposition budgeting

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