Personal finance true or false

¡Supera tus tareas y exámenes ahora con Quizwiz!

False

Inventory is the goods retailers buy to resell.

True

Business owners use reserve capital to grow their businesses.

True

American Express is an example of a publicly held corporation.

False

Financial forecasting is the process of predicting your business's profits.

False

Fixed expenses change with business conditions and other situations.

True

Agency power legally obligates a partnership to a contract signed by one of the parties.

False

A board of trustees oversees the general affairs of a corporation.

False

A business cannot have too much inventory.

False

A closely held corporation sells its shares openly in stock markets.

True

A document that shows where a business's cash has gone is a statement of cash flows.

True

A financial plan determines how a business will keep track of its money.

True

A financial plan includes a projected 12-month balance sheet.

False

A general partner has no decision-making authority.

False

A marketing plan is a written proposal that describes a new business.

True

A parent corporation is a company that sells franchises.

True

A profit is the amount of money earned above the amount spent to keep the business operating.

True

A transaction is any activity that has an effect on the financial situation of a business.

True

Supplies, office equipment and products to sell are assets.

True

When you apply for a commercial loan, the bank will want to see a projected income statement.

True

You should estimate your business' projected revenues on the low side and its expenses on the high side.


Conjuntos de estudio relacionados

Lesson 7: Troubleshooting Telephone Wiring and Twisted-Pair Cable

View Set

Unit 3: The Effect of Natural Forces on the Vehicle

View Set

Chapter 46: Management of Patients With Gastric and Duodenal Disorders 5

View Set

Computer Science Quiz [Early Computing]

View Set

Taylor ch 40 PrepU - Fluid, Electrolyte, Acid-Base Balance

View Set

Chapter 14: Musculoskeletal Imaging and Superficial Structures

View Set

Consideration & Preexisting Duty Rule

View Set

Age phisiology and school hygiene

View Set