GEB1011 Final Exam Questions and Correct Answers (Graded A+)
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GEB1011 Final Exam Questions and Correct Answers (Graded A+)
A business plan is a document that outlines your proposed company's goals, your planned methods for achieving those goals, and your - Answer- standards for measuring success
When Marston's son turned 16, he helped him open an interest...
GEB1011 Final Exam Questions and
Correct Answers (Graded A+)
A business plan is a document that outlines your proposed company's goals, your
planned methods for achieving those goals, and your - Answer- standards for
measuring success
When Marston's son turned 16, he helped him open an interest-bearing checking
account at the local bank. This account can best be classified as - Answer- demand
deposit
During which step of the accounting process is a trial balance run? - Answer- During the
summarization step, the bookkeeper tests the accuracy of the ledger data by running a
trial balance.
The Silver Fox Company manages investments that are funded by employers and
employees. These funds later provide retirement benefits to employees and their
families. Silver Fox is most likely a(n) - Answer- pension funds
________ involves selling stock to only a small group of large investors, such as
insurance companies and pension funds. - Answer- Private placements involve selling
stock to only a small group of large investors, such as insurance companies and
pension funds.
In which step of the accounting process does ratio analysis play a role? - Answer-
During the analysis step, the company's financial condition is assessed using ratio
analysis.
Taking a risk to develop a new business is a process known as - Answer-
Entrepreneurship
Dex is the CFO for Trask Enterprises. He is meeting with the CEO and other members
of the leadership team to create a formal plan for helping Trask to meet its financial
objectives. Dex is most likely assisting with a - Answer- Financial Plan
According to most definitions, a small business almost always has ________
employees. - Answer- 100 or fewer
Which of the following is one of the four psychological characteristics of a successful
entrepreneur? - Answer- high tolerance for ambiguity and risk
, A financial plan is from one year to five years; anything longer is a long-term forecast. -
Answer- A financial plan may be as short as one month or as long as 10 years.
As substitutes for bank loans, ________ consists of unsecured, short-term promissory
notes over $100,000 issued by large banks, corporations, insurance companies,
pension funds, public utilities, and state and local governments. - Answer- Commercial
Paper
Peer-to-peer lending, which allows individuals to borrow and lend money while
bypassing financial institutions, is also called - Answer- Social Lending
A firm's fiscal year is defined as - Answer- any 12-month period chosen for annual
financial reporting
A U.S. business that is independently owned and operated, is not dominant in its field of
operation, and meets certain criteria for number of employees and annual sales
revenue is called a(n) ________ business. - Answer- Small
A ________ is an account that pays interest and allows you to write an unlimited
number of checks, but you have to maintain a minimum monthly balance. - Answer-
NOW Account
A company with a lot of debt is considered to be heavily leveraged. - Answer- true
Raging Stream Music is preparing to sell some stock to the public over the course of the
next month. This is an example of - Answer- Public offering
The term for a group of employees, with different kinds of expertise, who form a team to
create a new product is - Answer- entrepreneurial team
Tra's Tree Trimming Company is always able to pay its bills on time or before they are
due. This best demonstrates the concept of - Answer- solvency
What is the term for the rate of return a firm must earn to cover the cost of generating
funds in the marketplace? - Answer- Cost of capital is the rate of return a firm must earn
to cover the cost of generating funds in the marketplace, or the overall percentage costs
of the funds used to finance a firm's assets.
Easy Insurance is a new business that offers property and casualty and life and health
insurance to customers. Easy Insurance is most likely which of the following? - Answer-
nonbank institution
A(n) ________ is a favorable circumstance that presents possibilities for progress
beyond existing goals. - Answer- opportunity
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