QUESTION When does a company record its expenses? A) when the company receives a bill B) when the company pays a bill C) when the company’s supplier has put a bill in the mail D) when the company decides to purchase something ANSWER A
Date: September 3rd, 2020
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 How does the Rule of 72 calculation work? A) Subtract the interest rate from 72. B) Divide 72 by the interest rate. C) Multiply the interest rate by 72. D) Add the interest rate to 72. ANSWER B
Date: September 3rd, 2020
QUESTION Revenue is A) the amount of cash a company deposits in its bank during one year. B) the amount of cash a company expects to bring in during the coming year. C) the amount of money a company generates during a period of time. D) the total amount of money received by a company […]
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
