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Foundations of Business chapter 14 Flashcards | StudBud
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Foundations of Business chapter 14
Define: Banknote
Explain the role of finance in business
Foundations of Business chapter 14
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1
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
2
Define: Banknote
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
Currency that is paper money
3
Explain the nature of employee financial needs by giving an example.
workers at a business earn money for their individual and
family's well-being.
nature of employee financial needs -
4
Define: Cash
moving of funds from 1 bank account to another bank account
Ching Ching $$$
Currency that is paper money
paper issues from a bank that states an amount to be paid
5
misappropriation of business funds is known as:
fine
cash
embezzelement
unit of measure
6
What are the functions of money?
all of the above
store of value
medium of exchange
unit of the measure
7
Cards used for a purchase with funds straight from their checking account are __ cards.
EFT
Financial
debit
credit
8
What are the steps of the decision making process?
State the problem, gather research
implement the decision
evaluate options
make a decision
9
Cybersecurity risks are associated with
Credit Cards
both A and B
Cash
EFT's
10
Electronic Funds Transfer
paper issued by a central bank for a certain amount
money is an asset thats holds value over time
Currency that is paper money
transmission of funds from one account to another
11
Define: Store of value
Currency that is paper money
paper issued by a central bank for a certain amount
a place with great deals
money is an asset thats holds value over time
12
Describe forms used in financial exchange
Credit cards allow spending now for increased cost later
Debit cards used to pay straight from checking accounts
EFT- transfer of funds from one bank acc to another
cash refers to paper money and coins
13
The transfer of money between individuals or businesses is known as:
Finances
medium of exchange
store of value
Unit of measure
14
What is the term used to describe an instrument of investment?
store of value
medium of exchange
commission
security
15
Define: Credit Cards
paper issued by a central bank that sates an amount owed
the root of all evil
cards that allow the charging of a set amount of money
Currency that is paper money
