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Financial Literacy Growing a Business Flashcards | StudBud

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First step to open a savings account?

Deflation is best described as:

Financial Literacy Growing a Business

13 terms·StudBud Administration

Test your knowledge on savings accounts, revenue, inflation, and other financial concepts in this engaging quiz.

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Questions 13

Answers

1
Deflation is best described as:
Decrease in purchases
Increase in purchases
Decrease in costs
Increase in costs
2
First step to open a savings account?
Fill out an application
Review account options
Present photo ID
Make initial deposit
3
What is a loss in business terms?
None of the above
Revenue less than expenses
Revenue greater than expenses
revenue is equal to expenses.
4
The milk price increase is likely due to:
Stock market changes
Inflation
Market basket changes
Deflation
5
Best account for long-term savings?
Savings Account
Certificate of Deposit
Checking Account
Credit Card
6
Revenue is defined as:
Money made from sales
Taxes a company pays
Money after bills paid
Money paid to employees
7
How to increase interest on savings?
Switch to lower interest
Deposit money monthly
Make monthly withdrawals
Open a checking account
8
What does revenue indicate for a company?
Financial health
Tax obligations
Employee salaries
Expense management
9
What is the best interest rate?
1% annually
2% semi-annually
1% daily
2% daily
10
Why save money in a savings account?
Frequent ATM withdrawals
Earn interest on savings
Access with personal checks
Easy debit card access
11
What is inflation?
Market fluctuations
Increase in prices
Decrease in prices
Stable prices
12
What is required for a checking account?
A salary
Initial deposit
A credit card
Last paycheck copy
13
Which is NOT a benefit of savings accounts?
Safe and secure funds
Harder to spend money
Earning interest
Frequent withdrawals allowed