Chapter 1 Quiz - Business Finance PDF
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Syracuse University
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Summary
This quiz covers basic business finance concepts including definitions of revenue, expenses, assets, liabilities, and stockholder's equity. It also includes questions regarding financial position, performance, and dividend payments. The quiz is suitable for introductory business finance courses or learners seeking to grasp the basics of financial accounting.
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Chapter 1: Quiz Match the Words to their Definitions: +-----------------------------------+-----------------------------------+ | 6. Revenue | f. Insider claims on assets | +=======================...
Chapter 1: Quiz Match the Words to their Definitions: +-----------------------------------+-----------------------------------+ | 6. Revenue | f. Insider claims on assets | +===================================+===================================+ | 1. Expenses | a. What you earn | +-----------------------------------+-----------------------------------+ | 2. Assets | b. A distribution of net income | | | (some or all) to stockholders | +-----------------------------------+-----------------------------------+ | 3. Liabilities | c. What you own: resources that | | | provide benefit to the | | | company | +-----------------------------------+-----------------------------------+ | 4. Stockholder's Equity | d. What you owe: outsider claims | | | on assets | +-----------------------------------+-----------------------------------+ | 5. Dividend | e. Costs of doing business | +-----------------------------------+-----------------------------------+ 7. If an investor wanted to look at a company's [financial position], what statement would they look at, and what is the equation for this statement? 8. If a lender wanted to look at a company's [performance], what statement would they look at, and what is the equation for this statement? 9. If an investor wanted to know whether the company [paid a dividend], what statement would they look at, and what is the equation for this statement? 10. What term do accountants use for the money in your bank account? a. Dough b. Benjamins c. Cash d. Moola Section 2: One point for each example 11. What are 2 examples of *Current* Asset accounts? 12. What is 1 example of a *Long-Term* Asset account? 13. What is 1 example of a *Current* Liability account? 14. What is 1 example of a *Long-Term* Liability account? 15. What are 2 examples of Equity accounts? 16. What is 1 example of a *Revenue* account? 17. What are 2 examples of *Expense* accounts? BONUS: 0.2 points for each additional *balance sheet* account you can name up to 1 point total (aka. 5 max will count, but feel free to list away!)
