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Preliminary Business Cram for Exam Flashcards | StudBud
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Preliminary Business Cram for Exam
Preliminary Business Cram for Exam
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Questions
20
Answers
1
What are the 4 key business functions?
Mangement, Marketing, Finance, Production
Marketing, Operations, Human Resource Management, Finance
Production, Promotion, Finance, Operations
Operations, Marketing, Manufacturing, Finance
2
Which business is owned and operated by two or more people and has unlimited liability?
Public company
Private company
Sole Trader
Partnership
3
What does a Cash Flow Statement show?
Gearing
Popularity
Liquidity
Profitability
4
How is COGS calculated?
Purchases-Opening Stock-Closing Stock
Purchases+Closing Stock+Opening Stock
Opening Stock + Purchases - Closing Stock
5
Flatter management structures tend to have better teamwork and communication.
True
False
6
Which of the following names is NOT a name for an INCOME statement?
Cash Flow
Revenue
Profit and Loss
7
What is the Accounting Equation?
L = A + CA
A = L + OE
OE = O + E
L + OE + A
8
Which statement best indicates liquidity?
The Cash Flow Statement
The Balance Sheet
The Income Statement
9
Which of the following is not a possible outcome in the Post Maturity stage?
Decline
Renewal
Growth
Steady state
10
What do you write at the top of the column when you are writing a Cash Flow Statement?
Opening Balance
Nothing
Your name
Closing Balance
11
Which of the following is a non current asset?
Capital
Cash at Bank
Cash in hand
Fixtures
12
What does an Income Statement show?
Gearing
Liquidity
Profitability
13
Which statement best reflects the net worth of the business?
The Balance Sheet
The Income Statement
The Cash Flow Statement
14
Which financial statement uses the accounting equation?
Income Statement
Balance Sheet
Revenue Statement
Cash Flow Statement
15
Which of the following is a Current Asset?
Accounts Receivable
Car
Boat
Accounts payable
16
What does COGS stand for?
Cost of Goods Sold
Cost of Giant Steps
17
Which of the following is a non current liability?
Credit card bill
Stock
Accounts payable
Mortgage
18
Billabong's sales plummeted in 2013 because of....
The economy
The Australian dollar
Competitors
Poor branding
19
Which of the following represent a challenge in the maturity stage?
New markets exploited
Rate of increase in sales starts to falter
Costs will be high in the short term
Sales increase over time
20
A person who risks time and money to start a business is called......
An innovator
A financier
An entrepreneur
An employer
