Finance UNCG Exam #1 Questions and Answers 100% Solved correctly
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Course
Finance UNCG
Institution
Finance UNCG
Career opportunities for Financial Services Include: - ️️-Banking
-Personal Financial Planning
-Investments
-Real Estate
-Insurance
When you sell inventory after it has been purchased by credit, account payable, it is -
️️accounts receivable
Finance - ️️defined as the science and...
Finance UNCG Exam #1
Career opportunities for Financial Services Include: - ✔️✔️-Banking
-Personal Financial Planning
-Investments
-Real Estate
-Insurance
When you sell inventory after it has been purchased by credit, account payable, it is -
✔️✔️accounts receivable
Finance - ✔️✔️defined as the science and art of managing money. It focuses on cash
flows*
Finance for Individuals - ✔️✔️-how much of their earnings they spend
-how much they save
-how they invest their savings
Finance - ✔️✔️-how firms raise money from investors
-how firms invest money in an attempt to earn a profit
-how firms decide whether to reinvest profits in the business or distribute them back to
investors
Managerial Finance - ✔️✔️the duties of the financial manager working in a business
Financial Managers - ✔️✔️Administer the financial affairs of all types of businesses-
private and public, large and small, profit-seeking and not for profit.
Tasks of Financial Managers Include: - ✔️✔️
Cash flow - ✔️✔️
Total Assets equals - ✔️✔️Total Current Assets+Net Fixed Assets
Liabilities - ✔️✔️Owing money
Current Liabilities - ✔️✔️Short Term Debts- due in payable in one year
Categories of Liabilities - ✔️✔️Accounts Payable
Accruals
Notes Payable
, Accounts Payable - ✔️✔️
Accruals (need to add more info) - ✔️✔️interest that builds up on amount of money
owed
Notes Payable - ✔️✔️Loans taken out that need to be paid within a year
Total Current Liabilities = - ✔️✔️Notes Payable + Accruals + Accounts Payable
Assets represent - ✔️✔️Short Term Sources of Cash
Liabilities represent - ✔️✔️Short Term Uses of Cash
Working Capital - ✔️✔️Current Assets - Current Liabilities
Working Capital is a measure of what? - ✔️✔️Liquidity
Working Capital Management - ✔️✔️Managing the short run of what will happen to a
corporations cash flow
Inventory purchased with credit = - ✔️✔️account payable
If a payment is due for inventory for an account payable, and you cannot afford it at the
moment... - ✔️✔️Borrow notes payable
Keeping plenty of cash in your assets keeps your company - ✔️✔️liquid
To make a firm valuable - ✔️✔️Invest in gross fixed depreciation and amortization
Depreciation - ✔️✔️the portion of the costs of fixed assets charged against annual
revenues over time
MACRS - ✔️✔️Modified Accelerated Cost Recovery System
Total Liabilities - ✔️✔️Total Current Liabilities + Long Term Debt
Equity - ✔️✔️The amount of money you can put down in actual cash versus credit
borrowed from bank
Retained Earnings - ✔️✔️Internal source of equity- money is being reinvested
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