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Financial Terminology Quiz 1 (30 MCQs)

Quiz Instructions

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1. Also known as "UVL." A form of cash-value life insurance that offers both a death benefit and an investment feature.
2. A program managed by the Social Security Administration that insures a worker in case of a mishap.
3. The best things in life are
4. The idea that accounts should be prepared on the same basis from one year to the next.
5. What is the key term for total revenue received by the enterprise
6. The total value of a company minus the net value of the tangible assets.
7. The dissolving of a company which can no longer pay its bills.
8. Which of the following are not a source of revenue
9. A legal contract to rent assets from the owner, often over long periods of time and with the possibility to buy the asset at the end of the rental period.
10. In a shop, to get a refund, you usually have to show the
11. The ..... rate on the loan was 14%.
12. Customers not paying on time often leads to ..... problems
13. Spain now uses the euro. Pesetas are no longer
14. Sorbat has gone into ..... with debts of about $ 20 million.
15. Which of the following best describes a fixed cost? A cost that:
16. How can you improve gross profit?
17. The idea that amounts should be recorded at the time they occur, not when cash is paid or received.
18. A company which owns most of the shares in another company.
19. ..... is a way for a business to raise capital but there is no obligation to repay entities that provide capital. Instead, entities are given ownership of the business.
20. John is calling his bank's customer service line because there is a purchase in his credit card report he didn't order. John might have been a victim of a .....
21. A coverage usually written in conjunction with a bodily injury liability policy. This insurance covers damage done to another person's property, usually including loss of use.
22. If the business in question 10 sold 100, 000 units during the year, its variable cost per unit equalled:
23. Not telling others about information which a business partner or client tells you.
24. I'm paying for my new car in 36 monthly
25. It details how the proposed business will sell its product to the target consumer.
26. If the current level of output (or production) of the business in question 8 is 2, 500 units, its margin of safety is:
27. The money spent on buying assets, which will then be included in the Balance Sheet.
28. A written description of a new business venture
29. The estimated value of an asset at the end of its useful life.
30. At zero output on a break even chart, the total cost line will always start:
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