Finance And Accounts Questions! Trivia Quiz

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| By Dzaros
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Dzaros
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Quizzes Created: 3 | Total Attempts: 258
| Attempts: 135
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  • 1/10 Questions

    The buyer's interface dictates which market a transaction will be settled in.

    • True
    • False
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About This Quiz


Finance and accounts questions trivia quiz. Finance and accounts are interconnected with each other and there is no way one can study in one field without learning some of the basic concepts surrounding the other. In the quiz below you will get to test your finance and accounting knowledge ranging from accounts receivable to different transactions. Give it a try and get to refresh your memory. All the best as you tackle it!

Finance And Accounts Questions! Trivia Quiz - Quiz

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  • 2. 

    Leaving a payable invoice as "Open" and "Provisional" in CXL still guarantees that TEA will make payment as long as the 3rd party's invoice is attached as well.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    Leaving a payable invoice as "Open" and "Provisional" in CXL does not guarantee that TEA will make payment, even if the 3rd party's invoice is attached. The terms "Open" and "Provisional" indicate that the invoice is not yet finalized or approved for payment. Therefore, TEA may choose not to make payment until the invoice is fully processed and confirmed.

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  • 3. 

    Which statement accurately describes Electricity?

    • Must be generated and used in real time.

    • Wholesale quantities move across the electric grid following the path of least resistance.

    • Unable to store electricity.

    • All of the above.

    • None of the above.

    Correct Answer
    A. All of the above.
    Explanation
    The statement "All of the above" accurately describes electricity. Electricity must be generated and used in real time, wholesale quantities move across the electric grid following the path of least resistance, and electricity is unable to be stored.

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  • 4. 

    The journal type "SJ" stands for.................

    • Settlement Journal

    • Standard Journal

    • Solomon Journal

    • Sales Journal

    • None of the above

    Correct Answer
    A. Standard Journal
    Explanation
    The correct answer is "Standard Journal." The journal type "SJ" refers to the Standard Journal. This journal is used to record standard transactions and is commonly used in accounting to keep track of regular business activities such as sales, purchases, and expenses. The Standard Journal helps in maintaining accurate financial records and provides a clear overview of the company's financial transactions.

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  • 5. 

    When a deal is cut, the transmission should be cut too since the deal did not flow at the original amount.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement suggests that when a deal is made, the transmission should also be cut because the deal did not flow at the original amount. However, this is not necessarily true. Cutting the transmission may not be necessary or relevant in all cases when a deal is made. The transmission may continue to function as usual, regardless of any changes in the deal. Therefore, the correct answer is false.

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  • 6. 

    Within how many hours of the deal itself must other transactions flow in order to display as selectable discoveries?

    • 5 hours

    • 1 hour

    • 3 hours

    • 2 hours

    • None of the above

    Correct Answer
    A. 2 hours
    Explanation
    Other transactions must flow within 2 hours of the deal itself in order to display as selectable discoveries.

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  • 7. 

    The deadline to have Account Recs updated and finalized for a given month is the..............

    • 2nd business day

    • 10th calendar day

    • 3rd business day

    • 5 calendar day

    • 4th business day

    • None of the above

    Correct Answer
    A. 4th business day
    Explanation
    The correct answer is the 4th business day. This means that the deadline to have Account Recs updated and finalized for a given month falls on the 4th business day of that month. It is important to complete this task by the 4th business day to ensure accurate and up-to-date account reconciliations.

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  • 8. 

    A curtailment can also be referred to as a(n) .........

    • TSR

    • FTR

    • ATC

    • TLR

    • PSE

    • None of the above

    Correct Answer
    A. TLR
    Explanation
    A curtailment can also be referred to as a "TLR" or Transmission Loss Reduction. This refers to the process of reducing the amount of energy lost during the transmission of electricity from power plants to consumers.

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  • 9. 

    Transaction price can be defined as charges that TEA receives or pays to a Member, Partner, or third party for energy at a specific Delivery Point.

    • True

    • False

    Correct Answer
    A. False
    Explanation
    The statement is false because transaction price refers to the amount that a buyer agrees to pay and a seller agrees to accept for a product or service in a transaction. It is not specific to TEA receiving or paying charges for energy at a specific Delivery Point.

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  • 10. 

    Which of the following companies would not be part of an FCBBS transaction?

    • TECO

    • PEF

    • DUK

    • GRU

    • OPC

    • NSB

    • None of the above

    Correct Answer(s)
    A. DUK
    A. OPC
    Explanation
    The companies that would be part of an FCBBS transaction are TECO, PEF, GRU, and NSB. DUK and OPC would not be part of this transaction.

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Quiz Review Timeline (Updated): Mar 21, 2023 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Mar 21, 2023
    Quiz Edited by
    ProProfs Editorial Team
  • May 23, 2013
    Quiz Created by
    Dzaros
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