WorksheetsBusiness Finance Final Exam Review
Total questions: 29
Worksheet time: 22mins
Name
Class
Date
1.
Which is NOT an example of an asset?
a)
Children
b)
Cash
c)
Equipment
d)
Buildings
2.
Which of the following is NOT one of the 4 types of risk?
a)
Natural
b)
Political
c)
Human
d)
Economic
3.
Which of the following is owned and operated by one individual?
a)
Corporation
b)
Limited Liability Company (LLC)
c)
Partnership
d)
Sole proprietorship
4.
Budgeting provides a guide for efficient business decisions.
a)
True
b)
False
5.
Property acceptable as security for a loan or other obligations is called______.
a)
Lump Sum
b)
Collateral
c)
Foreclosure
d)
Installments
6.
Risk identification requires source analysis and ______ analysis.
a)
Objective
b)
Scenario
c)
Problem
d)
Result
7.
Which of the following forms a Board to act as a governing body and is the most complicated form of business?
a)
Corporation
b)
Limited Liability Company ( LLC)
c)
Partnership
d)
Sole proprietorship
8.
______ covers workers who are injured or become ill due to workplace conditions.
a)
Group Health Insurance
b)
Unemployment insurance
c)
Liability Insurance
d)
Worker’s Compensation
9.
You should review your risk management every__________
a)
5 years
b)
Year
c)
Quarter
d)
Month
10.
Define credit:
a)
Yearly membership or participation fees
b)
Fees for getting cash advances
c)
The ability to acquire money, goods, and services, from others without immediate payment.
d)
Loans which will be in repayment for less than an 18 month time period.
11.
Rent is an example of a ______ expense.
a)
Fixed
b)
Variable
12.
How many steps are in the risk management process?
a)
7.0
b)
6.0
c)
5.0
d)
4.0
13.
The three main participants in the financial system of a country are individuals, governments, and businesses.
a)
True
b)
False
14.
A _____ is a legal agreement between two or more people and is the least common form of business.
a)
Corporation
b)
Limited Liability Company ( LLC)
c)
Partnership
d)
Sole proprietorship
15.
Owner’s Equity = Assets - Liability
a)
True
b)
False
16.
Examples of business insurance includes
a)
Property
b)
Liability
c)
Health
d)
All of the above
17.
Assets and liabilities are found on which of the following financial statements?
a)
Balance Sheet
b)
Statement of Cash Flows
c)
Income statement
d)
None of the above
18.
Which of the following financial analysis tools is used to determine how much product a business must sell just to cover its costs?
a)
Current ratio
b)
Break-even analysis
c)
Working capital
d)
Quick ratio
19.
Stealing of a person’s financial information, such as credit cards and social security number, with the intent to make purchases under the person's identity is known as ____.
a)
Scam
b)
Solicitation
c)
Withdrawal
d)
Identity theft
20.
A _____ is the charge for coverage, and a _____ is the amount the insured is required to contribute before the insurer pays the rest.
a)
Deductible; Premium
b)
Premium; Deductible
c)
Claim; Casualty
d)
Causality; Claim
21.
Deposit institutions include all of the following EXCEPT:
a)
Credit Unions
b)
Commercial Banks
c)
Savings and Loan associations
d)
Mortgage Companies
22.
Bonds are a common form of equity financing.
a)
True
b)
False
23.
In a self-managed credit plan, the company administers the credit program and assumes all the risks and returns.
a)
True
b)
False
24.
All of the following are examples of capital projects EXCEPT:
a)
Replacement project
b)
Government required project
c)
Cost-saving project
d)
All are examples of capital projects
25.
Which of the following best describes the credit terms of 2/10, net 30?
a)
Pay $10 in 2 days or pay the full price in 30 days.
b)
$2 discount if paid in 10 days, otherwise the full balance due in 30 days
c)
2% discount if paid in 10 days, otherwise the full balance is due in 30 days.
d)
Pay 2% in the first 10 days and the rest in 30 days.
26.
Which of the following types of corporate stock gives the stockholder voting rights?
a)
Preferred stock
b)
Common stock
27.
Which of the following is NOT a current asset?
a)
Accounts receivable
b)
Cash and cash equivalents
c)
Land and buildings
d)
Inventory
28.
Which type of compensation is based on the number of hours an employee works?
a)
Salary
b)
Wages
c)
Commission
d)
Piece rate
29.
A favorable balance of trade results from a country importing more than it exports.
a)
True
b)
False
100 %
