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Personal Finance/Business Flashcards | StudBud
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Personal Finance/Business
Personal Finance/Business
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Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
You only need to save for your long-term goals.
False
True
2
Initial payment when something is bought on credit
Asset
Insurance premium
Down payment
Consumer loan
3
In the U.S, small businesses make up ____ % of all U.S businesses.
25
50
99.7
45
4
Stock markets, bond markets, and commodities markets are all examples of financial markets.
False
True
5
An entrepreneur is a person who...
Invests money in a company
Saves money for retirement
Starts a new business
Works at a marketing firm
6
Which of these is NOT one of the factors that affect your credit score?
Credit mix
Payment history
Interest rates
New credit
7
A card that uses money directly from your bank account
Credit Card
Debit Card
8
Having a good credit score can help you borrow at lower interest rates & give you higher reliability for loan approvals
True
False
9
A card that borrows money but it has to be paid back.
Credit Card
Debit Card
10
What does FDIC stand for?
Federal Deposit Insurance Club
Federal Deposit Insurance Company
Federal Deposit Insurance Corporation
11
A slip that you fill out to put money in the bank.
Loan
Bond
Check
Deposit Slip
12
A sum of money paid by a company to its shareholders
Assets
Profit
Dividend
Investment
13
What is the biggest expense in the average person's budget?
Housing
Healthcare
Food
Transportation
14
______ is the process of setting financial goals and developing plans to reach them.
Goal setting
Financial planning
Accounting
Management
15
Which of the following is a "want" instead of a "need"?
Groceries
Rent
Utilities
Restaurant meals
16
A percentage paid to a lender for the use of borrowed money
Debit
Loan
Credit
Interest
17
The cost involved to operate a business is the
Expense
Cash Flow
Liabilities
Assets
18
When you own stock of a company,
you are involved in day to day management
you become CEO
you are a shareholder
you are part owner