Budget, Finance, And Economics Questions! Quiz

17 Questions | By Swiftdodgers | Last updated: Mar 22, 2022 | Total Attempts: 324

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Budget, Finance, And Economics Questions! Quiz - Quiz

Budget, finance, and economics questions quiz. Budgeting is the act of coming u with funds and deciding which activities to use the money on to increase the profits of a company. There is no way a business can function without taking economic factors into consideration and the quiz below is perfect for seeing how well you understand them. Give it a shot and feel free to take the quiz as many times as you need.

Questions and Answers

1.

Jan Injures Deaths 2002 2001 2000 2002 2001 2000 Feb Mar Apr May 5 month Totals 16,721 18,630 19,872 301 - 314 321 ~ Using the table above what is the % decrease of injuries between the year 2000 and 2001 from the 5-month totals and also what is the % decrease of deaths between the year 2001 and 2002 from the 5-month totals?
- A.
  
  6.3 and 4.1
- B.
  
  5.l and 4.5
- C.
  
  4.7 and 5.5
- D.
  
  4.5 and 5.1
2.

Jan Injures Deaths 2002 2001 2000 2002 2001 2000 Feb Mar Apr May 5 month Totals 16,721 18,630 19,872 301 - 314 321 ~ Using the table what is the % increase of injuries from the total 5-month in 2002 and 2000?
- A.
  
  Less than 9.8%
- B.
  
  Between 9.8% and 11%
- C.
  
  Between 10% and 12%
- D.
  
  Greater than 12%
3.

In comparing two alternatives based on economic analysis determine best one by:
- A.
  
  Use past expenditures
- B.
  
  Identify the events that are independent of each other for both alternatives
- C.
  
  Identify the different costs of each alternative
- D.
  
  Base it on the length of time of each alternative
4.

What is the best way to maintain control of costs?
- A.
  
  Evaluate monthly expenditures based on a carefully formulated program
- B.
  
  Personally review all expenditures before any disbursements are made
- C.
  
  Assign all authority to one staff member
- D.
  
  Submit weekly expenditures to superior for review
5.

Which of the following should the anticipated budget requirements for the next fiscal year, whenever possible, be based on?
- A.
  
  Changes in legal requirements
- B.
  
  Increases in population
- C.
  
  Price trends in financial markets
- D.
  
  A work program
6.

Sound budgeting and good planning will
- A.
  
  Provide a basis of managing resources
- B.
  
  Guarantee project has adequate fund
- C.
  
  Save money for next year
7.

Reason for financial planning and budgeting?
- A.
  
  Provide basis to gauge performance and plan for the future funds
- B.
  
  Guarantee project future fund
- C.
  
  Save money for next year
- D.
  
  Overcharge rate payers
8.

On border line cases analysis, the reason for favoring the longer-lived items is:
- A.
  
  Anticipated technological changes
- B.
  
  High Cost of Replacement
- C.
  
  Change of Service Requirement
9.

In determining what fuel type to use in power plant, a comparison of the ratio of costs per _____
- A.
  
  Unit consumed
- B.
  
  Volume of consumption
- C.
  
  Generation output unit
10.

A capitalized cost analysis is equivalent to:
- A.
  
  Present value of overall project + perpetual future replacement cost
- B.
  
  Present worth of the cost
- C.
  
  Year end payment to sinking fund
- D.
  
  Cost of investment…
11.

Of the following, when you prepare the anticipated budget for the next fiscal year, which one is the least concern?
- A.
  
  Change of legal enforcement
- B.
  
  Increase of population
- C.
  
  Price change with market trends
- D.
  
  A work program
12.

Which one is the least important factor for a budget to be successful or failure?
- A.
  
  Preparing budget
- B.
  
  Operating budget
- C.
  
  Obtain manager’s support for budget
- D.
  
  Comparing with prior year’s budget
13.

A wind farm rated at 100MW has a capacity factor of 30%. The cost is $0.05/kWHr under a PPA agreement. What is the annual cost to be budget for this generation source?
- A.
  
  $1.5M
- B.
  
  $ 9M (???)
- C.
  
  $15 M
- D.
  
  $45M
14.

What is the best way to maintain control of costs?
- A.
  
  Evaluate monthly expenditures based on a carefully formulated program
- B.
  
  Personally review all expenditures before any disbursements are made
- C.
  
  Assign all authority to one staff memeber
- D.
  
  Submit weekly expenditures to superior for review
15.

Which of the following should the anticipated budget requirements for the next fiscal year, whenever possible, be based on?
- A.
  
  Changes in legal requirments
- B.
  
  Increases in population
- C.
  
  Price trends in financial markets
- D.
  
  A work program
16.

A fund set aside and growing with interest in anticipation of a failure expenditure is called
- A.
  
  Surplus fund
- B.
  
  Sinking fund
- C.
  
  Revolving fund
- D.
  
  Bank reserve
17.

What is not a primary consideration to making a capital budget?
- A.
  
  Scoping of the project
- B.
  
  Alternatives
- C.
  
  The Business case
- D.
  
  Human Resources