QUESTION The income statement, cash flow statement, and balance sheet are all equally important to business operation. Indicate whether the statement is true or false ANSWER TRUE
Date: September 3rd, 2020
QUESTION Income 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 balance sheet is helpful both on a business level and on a personal level. Indicate whether the statement is true or false ANSWER TRUE
Date: September 3rd, 2020
QUESTION Financing for a period of one year or less is generally known as short-term financing. Indicate whether the statement is true or false ANSWER TRUE
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
QUESTION Which of the following are NOT reflected in a company’s cash flow statement? A) purchases of office supplies needed by the business B) payments from customers for products C) monies the company owes investors D) rent checks from a property the company is subleasing. ANSWER C
Date: September 3rd, 2020
QUESTION You are comparing cash flow statements for your business from the current month and the previous month. Which of the following would you be able to figure out? A) what denominations the business’s cash is in B) whether the business has cash C) how much cash the business has D) whether the business has […]
Date: September 3rd, 2020
QUESTION Which of the following indicates that a company has negative cash flow? A) The company’s cash on hand is unpredictable from month to month. B) The company’s cash is in the form of small bills. C) The company has more cash now than it did the previous month. D) The company has less cash […]
Date: September 3rd, 2020
