Business Characteristics - Finance & Accounting

According to the segment, why is the Finance and Accounting department important to a business?

• Controls hiring decisions

• Businesses cannot exist without cash flow

• Focuses on the worth of the company

• Controls the Human Resources department

Items of value owned by a business are known as which of the following?

• Assets

• Liabilities

• Owner's equity

• Bonds

Which of the following is the accounting classification of 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 funds

• Obtaining needed funds

• Creating a financial plan

• Establishing external relations

Which of the following is NOT a source of funding?

• Borrowing funds

• Selling stocks

• Investors

• Decreasing owner contributions