Entrepreneurship Quiz- Finance And Business

9 Questions | By Leona | Last updated: Mar 21, 2022 | Total Attempts: 453

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Entrepreneurship Ideas in Action, 3rd Edition

Questions and Answers

1.

Write the accounting equation and define each element of it.
2.

Which of the following is not a financial statement needed for potential lenders and investors?
- A.
  
  Cash flow statement
- B.
  
  Balance sheet
- C.
  
  Loss statement
- D.
  
  Income statement
3.

To prepare a Pro Forma Cash Flow Statement, you must forecast your:
- A.
  
  Revenues and operating expenses
- B.
  
  Profits
- C.
  
  Assets and liabilities
- D.
  
  Debt capital
4.

Money loaned to a business with the understanding that the money will be repaid, with interest, in a certain time period is:
- A.
  
  Equity capital
- B.
  
  A loan guarantee
- C.
  
  Venture capital
- D.
  
  Debt capital
5.

The assets section of a balance sheet includes:
- A.
  
  Fixed assets
- B.
  
  Accounts receivable
- C.
  
  Allowance for uncollectible accounts
- D.
  
  All of these
6.

All of the following are important types of insurance for your business except:
- A.
  
  Casual insurance
- B.
  
  Workers' compensation
- C.
  
  Life insurance
- D.
  
  Property insurance
7.

All businesses face the risk of:
- A.
  
  Credit card fraud
- B.
  
  Robbery
- C.
  
  Shoplifting
- D.
  
  Employee theft
8.

The reason a bank may turn down your loan application is:
- A.
  
  You have not owned a business before
- B.
  
  A start-up business is less likely to default on a loan
- C.
  
  Your business plan is poorly written
- D.
  
  You have invested too much of your own money
9.

Installing mounted video cameras can help to:
- A.
  
  Prevent robberies
- B.
  
  Prevent or reduce shoplifting
- C.
  
  Prevent employee theft
- D.
  
  All of these

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