POB 4.01 Question Preview (ID: 9407)


POB 4.01. TEACHERS: click here for quick copy question ID numbers.

Which financial ratio will John use if he wants to determine whether his business could pay its debts due this month?
a) current
b) debt to equity
c) net income
d) return on equity

Last month's revenue for Tisha's Tire Company was $700 and it paid $650 in expenses. Which is the net income/net loss amount for the business?
a) $50 net income
b) $50 net loss
c) $500 net income
d) $500 net loss

Last year's revenue for Zoe's Company was $95,000 and it paid $83,000 in expenses. Which is the net income/net loss amount for the business?
a) $5,000 net income
b) $5,000 net loss
c) $12,000 net income
d) $19,000 net loss

Harry's Grocery Store revenue for last year was $98,000 and it paid $103,000 in expenses. Which is the net income/net loss amount for the store?
a) $5,000 net income
b) $5,000 net loss
c) $9,000 net income
d) $9,000 net loss

Tonya compared revenue of $30,000 to expenses of $22,000 to determine whether her business experienced a net income or loss. Which type of financial statement was used?
a) Balance sheet
b) Budget
c) Income statement
d) Statement of owner's equity

Jill can find the value of assets and liabilities for her business at the end of the year on which type of financial statement?
a) Balance sheet
b) Budget
c) Income statement
d) Cash flow statement

Mary reviewed her company's budget for one year and determined that it is continuously spending more on utilities. Which type of budget was used?
a) Cash
b) Expansion
c) Operating
d) Start-up

Jack reviewed his company's budget for six months and determined that it is spending more on credit card purchases. Which type of budget was used?
a) Cash
b) Expansion
c) Operating
d) Start-up

Carl estimated that his business could invest an additional $40,000. Which type of budget was used?
a) Cash
b) Expansion
c) Operating
d) Start-up

Amana Appliance Company determined the affordability to start selling self-cleaning stoves. This is an example of what kind of financial planning?
a) Expansion
b) Personal
c) Operation
d) Start-up

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