Money Matters LAP Questions 1-10

Finance is the business function that involves managing...

Money

Money the business owes is known as...

accounts payable

Money owed to the business is known as....

accounts receivable

Decisions about financing refer to the...

acquisition of funds

The finance function ensures that the company's financial goals are...

in line with organizational priorities

To keep communication flowing with other departments, the finance function depends on...

information systems

The administration of assets refers to decisions about...

investments

How does the finance function relate to company spending?

it plans and controls spending

Accounting is distinct from finance because its main focus is on...

record-keeping activities

The goals of the finance function are to ensure profitability and to...

reduce risks