WorksheetsBF - 1.00 TEST
Total questions: 25
Worksheet time: 13mins
Imagine Brandon, an early bird, struggling to keep his eyes open as he tries to finish some work for the next day. He's not making much progress. Can you guess which time-management principle he needs to master?
Master the art of punctuality
Don't bite off more than he can chew
Break down big tasks into smaller, manageable ones
Understand his peak productivity hours and work accordingly
Imagine you're a secret agent on a mission to declutter your secret lair. You've just tossed out a bunch of old papers you no longer need. What kind of organization are you doing?
Setting up your mission goals.
Managing your mission time.
Sorting out your secret information.
Clearing up your lair space.
When scheduling your daily activities, always keep in mind the need for
flexibility.
appointments.
assignments.
activities.
Let's play a game of 'Spot the Business Finance'! Can you tell which of these is an example of business-related financial information?
A record of Accounts Receivable
A School-loan document
A Pay stub
A Sales receipt from purchasing a new mattress
Imagine you're an accountant, ready to prepare some top-notch financial reports. What's the key ingredient you need to ensure they're reliable?
You need to be neutral.
You need to be partial.
You need to be certified.
You need to be supervised.
GAAP is a system that provides accountants with
the newest technology.
acceptable procedures.
networking opportunities.
professional development.
For financial information to be comparable, it must also be
current.
consistent.
private.
digital.
Imagine you're a manager at a bustling tech startup. You're sipping your morning coffee, going through the company's financial information, when you spot an opportunity to save some cash by switching to a different Internet provider. This scenario is an example of using financial information to...
reduce expenses.
boost those sales numbers.
craft a savvy budget.
plan for a grand business expansion.
Managers use financial information to create and adjust
accounting standards.
mission statements.
budgets.
trends.
Imagine you're a manager at a thriving company. Why might you sneak a peek at the financial information of another company? Is it because:
You're trying to figure out a magic formula to boost your sales?
You're keeping an eye on your company's day-to-day business operations?
You're managing your company's debt like a pro?
You're curious to see how your company stacks up against the competition?
Decisions about financing refer to the
accounts receivable.
acquisition of funds.
administration of assets.
accounting department.
Imagine you're the CEO of a thriving company. Which area would you focus on if you want to understand the current balance of your company's assets and liabilities?
Calculating the return on capital.
Managing the working capital.
Making capital investment decisions.
Understanding the cash conversion cycle.
Imagine you're a business tycoon! The assets you already own and can use to kickstart a new venture are known as what?
equity.
dividends.
return on capital.
accounts payable.
Imagine you're a financial wizard! How would you ideally want the cash conversion cycle to be?
Perfectly balanced, as all things should be - at equilibrium.
Quick as a flash - as short as possible.
Like a long, relaxing vacation - as long as possible.
Always climbing - on an upward trend.
Imagine you're a business tycoon! What does it mean when your company's return on capital is positive?
Your company is skyrocketing in value!
Your company is sadly losing value.
Your company is running low on cash.
Your company is generously paying out dividends.
Imagine you're in a world where institutions have a dual identity. They have elements of both government bureaucracy and a private company. What would you call such an institution from both public and private perspectives?
A Semi-government Entity
A Franchise Business
A Government Institution
A Private Company
Which of the following is an example of personal financial information:
Sales invoice
Expense report
Accounts payable record
Pay stub
Hey there, future billionaire! Can you tell us which of the following is a type of financial statement that accountants prepare for a business?
A fancy sales invoice
A detailed balance sheet
A shiny credit card statement
A simple bank-deposit slip
The goals of the finance function are to ensure profitability and to
advertise products.
manufacture raw materials.
give out information.
reduce risks.
