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Mr Neil IBT Final
Assets are $1200, Liabilities are $300, OE is??
A Good stock market
Mr Neil IBT Final
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Questions
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Answers
1
A Good stock market
Bull
Tiger
Bear
Chicken
2
Assets are $1200, Liabilities are $300, OE is??
1500
800
900
3
The accounting equation is?
Assets = Liabilities + OE
Assets + Liabilities = OE
Assets + OE = Liabilities
4
The Fed is what type of bank
Credit
Central
Commercial
Retail
5
The tab that has Shapes in Word is
Insert
Home
Page Layout
Design
6
IPO stands for
Initial Purchase Offer
Instant Purchase Option
Insurance Protocol Organization
Initial Public Offering
7
You borrow $2000 at 6% for 9 mos. What is the interest you pay?
60
30
120
90
8
In Word, The tab that has Page Color
Home
Design
Page Layout
Insert
9
When you default on a loan, the creditor can place what on you and your property
Tax
Lien
Collateral
Police
10
The tab that has Format Painter in Word is
Insert
Home
Design
Page Layout
11
This is NOT one of the loans we talked about
Commercial
Retail
Consumer
Mortgage
12
Assets increase by $600, Liabilities decrease by $400. What is the effect on OE?
+1000
+400
+200
-200
13
What is the signature on the back of a check called
Receipt
Signature
Endorsement
Debit
14
This is what your company owns
Liability
Asset
Spread
Equity
15
In Word, The tab that has Table of Contents is
Insert
View
Mailings
Reference
16
In accounting, Expenses normally has what type of balance?
Credit
Debit
17
In Word, The tab that has Quick Parts is
Page Layout
Insert
Home
Design
18
If inflation increases, what should be done about the interest rate?
Increase
Nothing
Decrease
19
A bank is a
Non Depository Institution
Depository Institution
20
A Bad Stock market
Snake
Bear
Chicken
Bull
21
In Word, The tab that you go to for Margins
Page Layout
Insert
Design
Home
22
This is not one of the things you have to consider when deciding where to go cash a check
Is the bank close to my house?
Is the name of the bank on the check I’m trying to cash?
Do I have enough in my acct to cover the amt of the check
Do I have an account there?
23
Best example of a liquid asset
Building
car
Stock
Cash
24
The Chair of the Federal Reserve is nominated by ??
Senate
Congress
President
Treasury Secretary
25
Which object on a check is not required to be filled out to be cashed?
Pay To line
Date
notes
Signature
26
What is an example of a Central Bank?
investment Bank
Bank of America
The Fed
Credit Union
27
If a company has a profit, they may pay their stockholders a _____________
Profit Share
Deductible
Dividend
Profit
28
Head of the Fed
Joe Biden
Hillary Clinton
Jerome Powell
Janet Yellen
29
In Word, The tab that you go to Modify Style of a font is
Design
insert
Home
Page Layout
30
The number of Fed Governors
10
6
7
8
31
The correct transaction for you buy Supplies and charge it?
Debit Supplies, Credit OE
Debit Supplies, Credit Cash
Debit Supplies, Credit Accts Pay
Debit Supplies, Credit Accts. Rec
32
All companies that have stockholders are required to pay a dividend IF THERE IS A PROFIT
True
False
33
The Number of Fed District Banks
15
13
12
14
34
The stock exchange that has NO PHYSICAL LOCATION and sells mostly tech stock
London
NASDAQ
AMEX
NYSE
35
This is
not
one of the things that affects interest rates
Unemployment
Election
the general state of the economy
Inflation
36
Something of value to ensure a loan
Asset
Collateral
Grace Period
Lien
37
If you do a job and the customer charges it
Debit Cash, Credit OE
Debit Accts Rec, Credit Sales
Debit Cash, Credit Sales
Debit Accts Pay, Credit Sales
38
You put $10000 into acct that pays 3% int, comp quarterly. How much in the acct after 5 years?
$12,100
$12,350
$11,611
$11,900
39
When you take money out of the business for personal use:
Debit Cash, Credit OE
Debit Sales, Credit Cash
Debit OE, Credit Cash
Debit Cash, Credit Sales
40
The index that monitors the top 500 stocks
Dow Jones
AMEX
S & P
NYSE
41
In Word, The tab that has Caption is
Mailings
Reference
View
Insert
42
This is not one of the three types of banks we talked about
Central
Retail
Commercial
Credit
43
In accounting, Sales normally has what type of balance?
Debit
Credit
44
When a customer comes in and pays off their account, the correct transaction is
Debit Cash, Credit Sales
Debit Cash, Credit Accounts Pay
Debit Accts Rec, Credit Cash
Debit Cash, Credit Accts Rec
45
First Sec of Treasury
Washington
Adams
Hamilton
Franklin
46
The difference between what a bank pays in interest and what a bank received in interest is
Spread
Liability
Equity
Asset
47
After what war did we start using a National Currency?
WW2
Civil War
American REvolution
WW1
48
Established stock is sold on which market?
Stock
Primary
Secondary
NYSE