QUESTION What is another term for cost of revenue? A) cost of profit B) cost of operating income C) cost of goods sold D) cost of interest ANSWER C
Date: September 3rd, 2020
QUESTION In order to make more money for themselves, rich people ________. a. pay taxes b. take out loans for personal uses c. charge purchases with credit cards d. own stocks, property, and their own businesses ANSWER d
Date: September 3rd, 2020
QUESTION What is cost of revenue? A) any amount incurred by a company for expenses directly related to sale of a product B) amounts a company pays for expenses not directly related to the sale of its product C) unavoidable expenses that a company incurs when it generates reports on its financial dealings D) costs […]
Date: September 3rd, 2020
QUESTION When a bank lends money with no collateral backing it up, the bank is making a secured loan. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION Owning items that make you money gives you the ability to acquire ________ items that make you ________ money. a. more; no b. more; even more c. no; no d. no; even more ANSWER b
Date: September 3rd, 2020
QUESTION Revenue is recorded A) only after payment for a sale has been received by the company. B) when a sale is made, but not necessarily when payment for the sale is received. C) as soon as a customer has expressed interest in placing an order with a company. D) when a customer approves the […]
Date: September 3rd, 2020
QUESTION What are operating expenses? A) amounts incurred by a company for expenses directly related to sale of a product B) amounts a company pays for expenses not directly related to the sale of its product C) unavoidable expenses that a company incurs when it generates reports on its financial dealings D) costs incurred only […]
Date: September 3rd, 2020
QUESTION A bond is an agreement to lend money that will be repaid at a later date. Indicate whether the statement is true or false ANSWER TRUE
Date: September 3rd, 2020
QUESTION Anything you own or control, which you can exchange for some value is a(n) ________. a. liability b. asset c. retained earning d. equity ANSWER b
Date: September 3rd, 2020
QUESTION When a company borrows money that it has a legal obligation to repay, the company is using equity financing. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
