Finance Terms
Quiz
•
Business
•
11th - 12th Grade
•
Practice Problem
•
Hard
Claire Larsen
Used 93+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Ability of a business to continue trading profitably, and for its value to be greater than its debt.
Balance Sheet
Stability
Asset
Profitability
Answer explanation
Eg. value of the business is more than the debts of the business. Owners Equity is greater than Assets less Liabilities.
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Ability of a business to earn money from its investment in assets and equity.
Financial Position
Stability
Liquidity
Profitability
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Ability of a business to repay short term debts when they fall due.
Liquidity
Budget
Stability
Profitability
4.
FILL IN THE BLANK QUESTION
1 min • 5 pts
A ______ is a forecast of the financial position and performance of the business. Used to plan, monitor and control business operations.
Answer explanation
Budgets are measured against actuals to monitor business performance and control any problems which become evident.
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
This report shows the Financial Stability of the organisation. Shows Financial Position of the business. Lists all Assets, Liabilities and Owner’s Equity
Budget
Balance Sheet
Profit & Loss statement
Cash Flow statement
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Items of value owned by the business
Drawings
Capital
Assets
Liabilities
Answer explanation
Current Assets are expected to be used up within 12 months.
Non-current Assets are expected to be of value after 12 months
7.
FILL IN THE BLANK QUESTION
1 min • 5 pts
___________ are debts owed by the business to other entities
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