Question

QUESTION 1

Douglas oversees the financial operations at The Green Zone. He was recently brought on because the business is in a high growth and the owners wanted extra financial expertise. He is responsible for planning and managing The Green Zone’s financial resources, including developing plans that outline its financial short-term and long-term needs, raising capital for further growth and expansion, and evaluating financial outcomes and expectations. Which of the following is most likely Douglas’s job title?

	A.	CIO
	B.	CTO
	C.	COO
	D.	CEO
	E.	CFO

5.89 points   

QUESTION 2

Which of the following is the most likely example of an expenditure that would be financed by short-term funding?

	A.	building a factory
	B.	developing a new product
	C.	weekly payroll
	D.	purchasing a competing company
	E.	expanding to an additional location

5.89 points   

QUESTION 3

Martha’s company has a longstanding relationship with its office supply vendor. The vendor lets her company pay for its orders up to 60 days past delivery without any interest or penalties. Martha’s company often takes advantage of this policy and defers payment when it has a temporary cash flow gap. What short-term financing is Martha’s company using?

	A.	trade credit
	B.	self-financing
	C.	commercial paper
	D.	factoring
	E.	credit cards

5.89 points   

QUESTION 4

Which of the following businesses would be LEAST likely to get a grant from a local or state government?

	A.	a company developing solar panels
	B.	a nail salon
	C.	an innovative museum
	D.	an after-school program for students in grades K–5
	E.	a day-care center

5.89 points   

QUESTION 5

Dara’s company has large capital needs and is looking into different financing options. It decides that there is much public support for the company and that it would be a good time to start selling stakes of ownership in the company. Which of the following does this best describe?

	A.	an angel investor
	B.	contributions from friends and family
	C.	venture capital
	D.	a paper stock certificate
	E.	an IPO

5.89 points   

QUESTION 6

Kate is an accountant. Much of her work involves preparing short-term reports to help mangers with the day-to-day operations of the business. She also helps prepare budgets and forecasts, analysis of sales performance, production efficiencies, and actual performance as compared to budgeted expectations. In which field of accounting does Kate work?

	A.	managerial accounting
	B.	tax accounting
	C.	government/not-for-profit accounting
	D.	financial accounting
	E.	auditing

5.89 points   

QUESTION 7

Jodie’s photography business is doing well. She incurred no liabilities to acquire the assets of her business, a laptop and an SLR camera. However, as she continues building her business she realizes that her current laptop won’t cut it. She decides to borrow $500 to purchase a new laptop. Which of the following is true? (Assume that her SLR camera has a value of $700.)

	A.	Jodie’s liabilities equal her owner’s equity.
	B.	Jodie’s assets equal her owner’s equity.
	C.	Jodie’s owner’s equity is greater than her liabilities.
	D.	Jodie’s assets equal her liabilities.
	E.	Jodie’s business has more liabilities than assets.

5.89 points   

QUESTION 8

Yvette is supposed to work on a financial document for her boss, but she can’t remember which one. All she can recall right now is that it’s the one that represents a “snapshot” of the company’s financial position at a certain point in time. Which financial document is Yvette thinking of?

	A.	profit and loss statement
	B.	an income statement
	C.	a balance sheet
	D.	cash flow statement
	E.	a statement of cash flows

5.89 points   

QUESTION 9

Which of the following stands for the amount of money that a company actually receives and spends over a specific period?

	A.	financial management
	B.	financial plan
	C.	operating budget
	D.	capital budget
	E.	cash flow

5.89 points   

QUESTION 10

______ are small, short-term loans specific to small businesses.

	A.	Microloans
	B.	Unsecured loans
	C.	Secured loans
	D.	Trade credit
	E.	Peer-to-peer loans

5.89 points   

QUESTION 11

Equity financing occurs when ______.

	A.	A company borrows money that it is legally obligated to repay, with interest, by a specified time.
	B.	A company tracks business income and expenses by recording its financial transactions.
	C.	A company gets its financial reports reviewed and evaluated by auditors.
	D.	Funds are generated by the owners of a company rather than being borrowed from an outside lender.
	E.	A borrower sells accounts receivable for cash instead of using them as collateral for a loan.

5.89 points   

QUESTION 12

Which of the following refers to an investment in the company by a group of outside investors who take an active role in a company’s management decisions?

	A.	stock certificate
	B.	debt financing
	C.	initial public offering
	D.	venture capital
	E.	microloans

5.89 points   

QUESTION 13

______ is the area of accounting responsible for reviewing and evaluating the accuracy of financial reports.

	A.	Auditing
	B.	Managerial accounting
	C.	Corporate accounting
	D.	Bookkeeping
	E.	Financial accounting

5.89 points   

QUESTION 14

Which of the following is NOT TRUE for the Sarbanes-Oxley Act?

	A.	The Sarbanes-Oxley Act was legislated in response to surge in reports of accounting scandals.
	B.	The Sarbanes-Oxley Act established the Public Company Accounting Oversight Board.
	C.	The Sarbanes-Oxley Act was passed to protect investors from corporate accounting frauds.
	D.	The Sarbanes-Oxley Act proved to be an effective legislation in case of Lehman Brothers scandal.
	E.	The Sarbanes-Oxley Act makes provision for financial audits of public companies.

5.89 points   

QUESTION 15

Double entry bookkeeping recognizes that ______.

	A.	for every transaction that affects an asset, an equal transaction must also affect either equipment or inventory.
	B.	for every transaction that affects an asset, an equal transaction must also affect either goodwill or accounts payables
	C.	for every transaction that affects an asset, an equal transaction must also affect either an investment or retained earnings
	D.	for every transaction that affects an asset, an equal transaction must also affect either an investment or accounts receivables
	E.	for every transaction that affects an asset, an equal transaction must also affect either a liability or owners’ equity

5.89 points   

QUESTION 16

Which of the following stands for the overhead costs incurred with running the business?

	A.	net income
	B.	owners' equity
	C.	long-term liabilities
	D.	inventory
	E.	operating expenses

5.89 points   

QUESTION 17

Which of the following equations represents working capital?

	A.	revenue ? expenses
	B.	liabilities + owners’ equity
	C.	current assets ÷ current liabilities
	D.	total liabilities ÷ owners' equity
	E.	current assets ? current liabilities

5.89 points   

Please Answer these ASAP.

Thanks

Answer 1

COULD ONLY ANSWER FIRST FOUR PER RULES. PLEASE UPLOAD 4 QUESTIONS PER PART.

1. E

Chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company.

CIO is Chief Information Officer is responsible for the traditional information technology and computer systems.

CTO is Chief Technology Officer is occupation focused on scientific and technological issues within an organization

COO is Chief Operating Officer is tasked with the day-to-day administration and operation of the business

CEO is Chief Executive Officer acts as the main point of communication between the board of directors and corporate operations

2. C

Except C, other projects are in respect to creation of long term assets – building a factory, developing a new product, purchasing a competing company and expanding to an additional location. All long term assets (ideally) are created with long term loans/funding.

3. A

Trade credit is the credit extended to you by suppliers who let you buy now and pay later.

4. B

A nail salon is more a cosmetic activity, which is unlikely to get any state funding. Other businesses – company developing solar panels, an innovative museum, after school program and day-center are activities that would build up on social activities and hence are likely to receive funding from government.