QUESTION When does an expense become a cash outflow? A) when a company makes a withdrawal from its bank B) when a company decides to make a purchase C) when a company receives a bill D) when a company pays a bill ANSWER D
Date: September 3rd, 2020
QUESTION Investments in objects, such as coins, stamps, and art, are considered to be very liquid. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION Expenses are divided into A) operating expenses and income. B) cost of revenue and operating expenses. C) cash out and cash deferred. D) invoices received and invoices paid. ANSWER B
Date: September 3rd, 2020
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 A risk is any circumstance in which the outcome of a decision or action is uncertain. Indicate whether the statement is true or false ANSWER TRUE
Date: September 3rd, 2020
QUESTION You have saved $200 in an interest-bearing account and plan to leave it there for 5 years. How would you calculate the interest you would need to earn in order to double your money in those 5 years? A) Divide 72 by the number of years you have to save. B) Multiply 72 by […]
Date: September 3rd, 2020
QUESTION A company’s weaknesses are the internal factors that will help it achieve its objective. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
