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Financial Terminology Quiz 5 (20 MCQs)

Quiz Instructions

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1. An amount which has to be paid to another party.
2. The process to reduce the value of an asset to zero, over a specified number of years
3. A company which is owned or controlled by another company.
4. A practice or arrangement whereby a company provides a guarantee of compensation for specified forms of loss, damage, injury or death.
5. Comprehensive income is a statement of all income and expenses recognized during this period
6. Which profit is this the money an enterprise makes from selling a product (once cost of sales have been deducted)
7. To be under an insurance
8. A form of property insurance designed to protect an individual's home against damages to the house itself, or to possessions in the home.
9. A document or request filed by a policyholder statng that an insured event has occured and that the insurance company should provide coverage
10. What are the key inputs of business?
11. William wants to have the opportunity of buying the things he needs to repair his house and make other purchases, even if he doesn't have the cash in his pocket nor in his bank account. William needs a .....
12. Having insurance coverage beyond what is necessary.
13. The amounts that a person or organization owes to someone else in the normal daily business.
14. Life insurance that pays a benefit on the death of the insured and also accumulates a cash value.
15. A/An ..... is a particular type of loan for the purchase of property.
16. The idea that financial information can only be reported correctly on the basis that the company will be able to operate in the future.
17. In an auction, the item is sold to the person who makes the highest
18. The cost your company incurs each month in order to operate
19. Joseph wants to buy a life insurance for him and his family, but he must first read the ..... to know all the conditions.
20. An individual whom a taxpayer can claim for credits and/or exemptions
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