Finance Quiz

What is the term for money needed to start a company?

• Debt

• Capital

• Liability

• Credit

What is the British English term for 'stockholder'?

• Investor

• Shareholder

• Creditor

• Debtor

When they saw our financial statements, the bank refused to ______ us any more money.

• lend

• give

• offer

• send

Profit is the difference between revenue and ______.

• expenses

• assets

• liabilities

• equity

The profit and __________ account shows if a company is receiving more money than it’s spending.

• loss

• gain

• cash

• income

A company’s retained earnings belong to its __________.

• owners

• shareholders

• employees

• creditors

Anything a company uses to produce goods or services is an __________.

• asset

• liability

• expense

• income

Who are creditors in financial accounting?

• People who have lent money to a company

• Employees of the company

• Customers of the company

• Competitors of the company

What is the role of accounting in business deals?

• Recording and summarizing them

• Designing new products

• Conducting scientific research

• Managing employee relations

What is the consequence of presenting accounts in more than one way?

• Increased transparency

• Potential for misleading information

• Higher profits

• Better employee engagement