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Foundations of Business chapter 14 Flashcards | StudBud
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Foundations of Business chapter 14
What are the functions of money?
misappropriation of business funds is known as:
Foundations of Business chapter 14
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1
misappropriation of business funds is known as:
cash
unit of measure
fine
embezzelement
2
What are the functions of money?
medium of exchange
all of the above
store of value
unit of the measure
3
Cards used for a purchase with funds straight from their checking account are __ cards.
Financial
EFT
debit
credit
4
Define: Cash
Currency that is paper money
Ching Ching $$$
paper issues from a bank that states an amount to be paid
moving of funds from 1 bank account to another bank account
5
Explain the nature of employee financial needs by giving an example.
nature of employee financial needs -
workers at a business earn money for their individual and
family's well-being.
6
Cybersecurity risks are associated with
both A and B
Credit Cards
EFT's
Cash
7
Electronic Funds Transfer
money is an asset thats holds value over time
Currency that is paper money
transmission of funds from one account to another
paper issued by a central bank for a certain amount
8
What is the term used to describe an instrument of investment?
medium of exchange
commission
store of value
security
9
Explain the role of finance in business
without money theres no exchange of goods or paying for work
Finance - the management of money
Businesses rely on cash flow to operate - money v. money out
10
What are the steps of the decision making process?
make a decision
State the problem, gather research
evaluate options
implement the decision
11
Define: Store of value
paper issued by a central bank for a certain amount
Currency that is paper money
a place with great deals
money is an asset thats holds value over time
12
Describe forms used in financial exchange
EFT- transfer of funds from one bank acc to another
cash refers to paper money and coins
Debit cards used to pay straight from checking accounts
Credit cards allow spending now for increased cost later
13
The transfer of money between individuals or businesses is known as:
medium of exchange
store of value
Finances
Unit of measure
14
Define: Credit Cards
Currency that is paper money
cards that allow the charging of a set amount of money
paper issued by a central bank that sates an amount owed
the root of all evil
15
Define: Banknote
Currency that is paper money
money is an asset that holds value over time
an official message from a bank
paper issued by a bank that states an amount to be paid
