Financial Planning 2

What defines a hazard in safety terms?

• Anything that can potentially cause harm

• A certain probability of danger

• A type of safety equipment

• A method to measure danger

What is the difference between a hazard and a risk?

• There is no difference

• A hazard can cause harm, while a risk is the potential that a hazard will cause harm

• A hazard is the potential for harm, while a risk is the actual harm

• A risk is a type of hazard

Which scenario describes a risk?

• A hammer

• Using a hammer and injuring oneself

• Buying a hammer

• The presence of a hammer in a toolbox

A ____________ is something in the environment or something about a person's actions that can cause harm or injury.

• Hazard
• Emergency
• Accident 
• Concussion

Cash is a ....

• Asset

• Liability

• Equity

• Expense

Something of value OWNED by the company is a

• Liability

• Asset

• Owner's Equity

Amount owed by a business

• liability

• asset

• capital

• account

A system of recording and reporting financial activity is called

• Finance
• Accounting
• audit
• Budger

Things owned by a company

• liablities
• profit
• assets
• loss

Net worth of a business

• balance sheet
• financial statement
• Income statement
• Owners Equity