Finlit Pretest 2 2024

When you purchase a stock on the exchange, you're buying into a

• a bank

• small piece of that company.

• savings account

Liability is a ___________

• debt

• asset

• savings

___________Checks that have not been deducted from the bank statement balance

• overdraft checks

• outstanding checks

• bounced checks

________________The financial record of employee compensation, deductions, and net pay

• wages

• payroll

• taxes

(a)   charges imposed by a government to finance public services

_________________detailed plans for the financial needs of individuals, families, and businesses.

• 401(K)

• budget

• check record

_________Money subtracted from a paycheck for taxes, social security, etc. are called

• net pay

• deductions

• budget

a rise in prices, which can be translated as the decline of purchasing power over time.

• recession

• inflation

• bankruptcy

______________the amount of money needed to open the business.

• long term financing

• Start up financing

• short term financing

money needed for the main resources of a business (such as land,

buildings, and equipment) that will last for many years.

• short term financing

• long-term financing

• startup financing