Finance and Accounting Quiz

What is the importance of finance department of a business?

• The history of finance

• The importance of financial management and performance assessment

• The role of marketing in business

• The development of new accounting software

Which of the following is central to the role of finance and accounting according to the introduction?

• Understanding how information is produced, analyzed, and applied

• Developing new financial products

• Training employees in customer service

• Expanding business operations globally

What are the key issues explained in this section of the learning material?

• Marketing strategies and customer engagement

• Financial management, financial statements, and performance measurement

• Human resource management and employee training

• Technological advancements in accounting

Why does business activity require finance?

• To increase employee satisfaction

• To manage working capital

• To improve customer service

• To enhance marketing strategies

What is the difference between capital and revenue expenditure?

• Capital expenditure is for short-term needs; revenue is for long-term needs

• Capital expenditure is for long-term needs; revenue is for short-term needs

• Both are for short-term needs

• Both are for long-term needs

What is the importance of working capital to a business?

• It helps in long-term investments

• It ensures smooth daily operations

• It increases employee salaries

• It reduces marketing costs

Which of the following is a source of short-term finance?

• Bank loan

• Overdraft

• Equity financing

• Venture capital

What role do financial institutions play in business finance?

• They provide marketing strategies

• They offer financial products and services

• They manage employee relations

• They develop new technologies

Why do businesses require finance?

• To buy capital equipment, land, and premises

• To reduce employee salaries

• To decrease production costs

• To eliminate competition

Which of the following is a reason for businesses to seek finance?

• To meet unforeseen situations

• To avoid paying taxes

• To reduce marketing efforts

• To limit product development