Podcast
Questions and Answers
Which of the following is NOT a reason why a profit is required in a business?
Which of the following is NOT a reason why a profit is required in a business?
- To attract talent and partners
- To secure bank loans
- To build a successful financial history for borrowing funds
- To distribute profits to shareholders (correct)
What is the purpose of setting aside a percentage of the profit as a capital reserve?
What is the purpose of setting aside a percentage of the profit as a capital reserve?
- To pay out retiring or dismissed employees and partners
- To attract investors
- To have funds for lean years (correct)
- To maximize profit
What does financial management help a firm to do?
What does financial management help a firm to do?
- Maximize profit (correct)
- Attract talent and partners
- Distribute profits to shareholders
- Secure bank loans
Which factors are considered in a performance review for the distribution of incentive bonuses?
Which factors are considered in a performance review for the distribution of incentive bonuses?
What should the additional percentage for shareholders or partners' investment represent?
What should the additional percentage for shareholders or partners' investment represent?
Where can you find information about performance reviews?
Where can you find information about performance reviews?
Which of the following is a key component of a financial plan for an architectural practice?
Which of the following is a key component of a financial plan for an architectural practice?
What is the purpose of short-term financial planning, also known as budgeting?
What is the purpose of short-term financial planning, also known as budgeting?
Why is it important for an architectural practice to have a financial plan in case of downsizing?
Why is it important for an architectural practice to have a financial plan in case of downsizing?
Which of the following is included in projected income?
Which of the following is included in projected income?
What should be considered when adjusting projected income?
What should be considered when adjusting projected income?
How are profits usually estimated in relation to projected revenues?
How are profits usually estimated in relation to projected revenues?
