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Financial Aspect

Total questions: 15

Worksheet time: 5mins

Name
Class
Date
1.

Does the organizational plan include the financial projections for the new venture?

a)

TRUE

b)

FALSE

2.

Do assets refer to everything that the business owns that can be used to create value?

a)

TRUE

b)

FALSE

3.

Liabilities represent the excess of all assets over liabilities, this is also known as the net worth of the business?

a)

TRUE

b)

FALSE

4.

Do liabilities represent everything that the business owes to banks and other creditors?

a)

TRUE

b)

FALSE

5.

Does competitor analysis refer to the volumes of sales at which the business neither makes a profit nor incurs a loss?

a)

TRUE

b)

FALSE

6.

Does liquidity generally refer to how much cash or cash equivalents are present in a company?

a)

TRUE

b)

FALSE

7.

The total amount of money spent is called inflows by the company over the same period?

a)

TRUE

b)

FALSE

8.

The projected income statement shows you and potential lenders and investors if the company is profitable and/or when it is expected to make a profit.

a)

TRUE

b)

FALSE

9.

The sum over some time of the total cash received called (inflow) from the sale?

a)

TRUE

b)

FALSE

10.

Current assets can include buildings, computer equipment, software, furniture, land, machinery, and vehicles?

a)

TRUE

b)

FALSE

11.

Variable cost are business costs, such as rent, that are constant whatever the quantity of goods or services produced.

a)

TRUE

b)

FALSE

12.

Fixed cost are costs that change as the quantity of the good or service that a business produces changes.

a)

TRUE

b)

FALSE

13.

Expense is a type of expenditure that flows through the income statement and is deducted from revenue to arrive at net income.

a)

TRUE

b)

FALSE

14.

Projected revenue refers to estimated money a company will generate during a specific period.

a)

TRUE

b)

FALSE

15.

Revenue is the value of sales of goods and services recognized by a company in a period.

a)

TRUE

b)

FALSE