QUESTION Most wealthy people know that ________. a. just wanting a million dollars is enough b. the more money you earn, the less you pay in taxes and expenses c. you cannot put all your financial “eggs” in one basket d. spending a lot of money is the path to riches ANSWER c
Date: September 3rd, 2020
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
