Trivia On Business Terms: Ultimate Quiz!
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Questions and Answers
- 1.
What term is used to describe one company purchasing the assets of another company?
- A.
Return On Investment
- B.
Consolidation
- C.
Divestiture
- D.
Acquisition Of Assets
Correct Answer
D. Acquisition Of AssetsExplanation
The term used to describe one company purchasing the assets of another company is "Acquisition of Assets". This refers to the process in which a company buys the assets, such as equipment, property, or intellectual property, of another company. It is a common strategy for companies to expand their operations, gain access to new markets, or acquire valuable resources by acquiring the assets of other companies.Rate this question:
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- 2.
What acronym is used to refer to adjustable-rate preferred stock?
- A.
ARPS
- B.
ADJRATE
- C.
ARM
- D.
PREF
Correct Answer
A. ARPSExplanation
ARPS is the correct answer because it stands for adjustable-rate preferred stock. This type of stock has a dividend rate that can fluctuate based on changes in a reference interest rate, such as the prime rate or Treasury bill rate. The adjustable nature of the dividend rate makes ARPS different from traditional preferred stock, which typically has a fixed dividend rate.Rate this question:
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- 3.
Submitted invoices for mileage reimbursement, meals, and cab fare are classified as what?
- A.
Human Resources
- B.
General Ledger
- C.
Expenses
- D.
Portfolio
Correct Answer
C. ExpensesExplanation
Submitted invoices for mileage reimbursement, meals, and cab fare are classified as expenses. Expenses refer to the costs incurred by a company or individual in order to generate revenue or conduct business operations. In this case, the invoices for mileage reimbursement, meals, and cab fare represent the costs or expenditures that need to be recorded and accounted for. By classifying them as expenses, the company can track and manage these costs effectively, ensuring accurate financial reporting and budgeting.Rate this question:
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- 4.
What evidence does a firm hold to show its own goods stored in a warehouse?
- A.
Warehouse Contract
- B.
Warehouse Closure
- C.
Warehouse Receipt
- D.
Warehouse Document
Correct Answer
C. Warehouse ReceiptExplanation
A warehouse receipt is a document that a firm holds to show its own goods stored in a warehouse. This receipt serves as evidence of ownership and provides details about the goods, such as quantity, quality, and storage location. It is typically issued by the warehouse operator to the firm storing the goods and can be used as proof of ownership for various purposes, including insurance claims, financing, and legal disputes. Therefore, a warehouse receipt is the correct answer as it is the specific document that demonstrates the firm's ownership of the goods stored in the warehouse.Rate this question:
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- 5.
What is the daily number of shares of a security that changes hands between a buyer and a seller called?
- A.
Vanilla Issue
- B.
Variation
- C.
Volume
- D.
Visible Supply
Correct Answer
C. VolumeExplanation
The daily number of shares of a security that changes hands between a buyer and a seller is called "Volume". This represents the total amount of trading activity for a particular security on a given day. It is an important metric for investors as it indicates the liquidity and interest in a particular stock or security.Rate this question:
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- 6.
Non-payment of mortgage results in what action was taken by the bank?
- A.
Foreclosure
- B.
Audit
- C.
Tax Increments
- D.
Commission
Correct Answer
A. ForeclosureExplanation
When a borrower fails to make mortgage payments, the bank takes action to recover the unpaid loan amount. This action is known as foreclosure. Foreclosure allows the bank to legally seize the property and sell it to recoup the outstanding debt. It is a common course of action taken by banks when borrowers default on their mortgage payments.Rate this question:
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- 7.
Who earns a commission in a stock transaction?
- A.
Broker
- B.
Real Estate Agent
- C.
Financial Analyst
- D.
Loan Officer
Correct Answer
A. BrokerExplanation
A commission is typically earned by a broker in a stock transaction. Brokers act as intermediaries between buyers and sellers in the stock market, facilitating the buying and selling of stocks on behalf of their clients. They earn a commission, which is a percentage of the total transaction value, for their services. Real estate agents, financial analysts, and loan officers may also earn commissions in their respective fields, but in the context of a stock transaction, it is the broker who earns the commission.Rate this question:
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- 8.
What does "WACC" mean in financial terms?
- A.
Watched Annual Capital Compilation
- B.
Weighted Average Cost Of Capital
- C.
World Annuity Capital Corporation
- D.
Wanted Annual Capital Compilation
Correct Answer
B. Weighted Average Cost Of CapitalExplanation
WACC stands for Weighted Average Cost of Capital. It is a financial term that represents the average rate of return a company needs to earn on its investments in order to satisfy its shareholders. WACC takes into account the cost of debt and the cost of equity, weighted by the proportion of each in the company's capital structure. By calculating WACC, companies can determine the minimum return they need to generate in order to create value for their investors.Rate this question:
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- 9.
What do Wall Street firms do?
- A.
Print Paper Money
- B.
Establish Business Ventures
- C.
Buy And Sell Securities
- D.
Determine Cost Of Products
Correct Answer
C. Buy And Sell SecuritiesExplanation
Wall Street firms primarily engage in the buying and selling of securities. This involves trading stocks, bonds, derivatives, and other financial instruments on behalf of their clients, which can include individuals, corporations, and institutional investors. These firms act as intermediaries, facilitating the transfer of securities between buyers and sellers in the financial markets. By participating in these transactions, Wall Street firms help provide liquidity to the markets and enable investors to access capital and manage their investment portfolios.Rate this question:
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- 10.
What does a warehouse receipt provide in financial terms?
- A.
Evidence Of Ownership Of Goods
- B.
Key To The City Bank
- C.
Storage For Business Machines
- D.
Ownership Of Building
Correct Answer
A. Evidence Of Ownership Of GoodsExplanation
A warehouse receipt provides evidence of ownership of goods in financial terms. This document serves as proof that the goods mentioned in the receipt are owned by the holder. It is commonly used in trade and commerce as a legal document to establish ownership and facilitate financial transactions such as loans or sales. The warehouse receipt provides security and assurance to both the owner of the goods and potential buyers or lenders.Rate this question:
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- 11.
If something is a wash, what does that mean?
- A.
Cheap Stock
- B.
It Is A Total Gain
- C.
It Is A Total Loss
- D.
Gain Equals Losses
Correct Answer
D. Gain Equals LossesExplanation
If something is a wash, it means that the gain equals the losses. This implies that there is no overall profit or loss, and the result is neutral.Rate this question:
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- 12.
What is the release of information before the official public announcement?
- A.
Slander
- B.
Lead
- C.
Bribery
- D.
Leakage
Correct Answer
D. LeakageExplanation
Leakage refers to the release of information before the official public announcement. It implies that confidential or sensitive information has been leaked to the public or unauthorized individuals, potentially causing harm or disruption. This term is commonly used in contexts such as business, politics, or media, where the premature disclosure of information can have significant consequences. Slander, lead, and bribery are unrelated to the concept of releasing information before an official announcement.Rate this question:
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- 13.
What is a long-term rental agreement?
- A.
Margin
- B.
Lender
- C.
Annuity
- D.
Lease
Correct Answer
D. LeaseExplanation
A long-term rental agreement refers to a lease. A lease is a legal contract between a landlord (lessor) and a tenant (lessee) that allows the tenant to occupy and use the property for a specified period of time in exchange for rent payments. It typically lasts for a year or more, providing stability and security for both parties involved. This agreement outlines the terms and conditions of the rental, including rent amount, duration, responsibilities, and any restrictions or limitations.Rate this question:
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- 14.
In what state is Wall Street located?
- A.
Illinois
- B.
New York
- C.
Georgia
- D.
California
Correct Answer
B. New YorkExplanation
Wall Street is located in New York because it is the financial district of New York City. It is known as the financial capital of the world, housing the New York Stock Exchange and numerous other financial institutions. The area is famous for its stock exchanges, banks, and investment firms, making it a hub for global finance.Rate this question:
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