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6.02_FI354 POB Review Part A
Test Description: Review
Instructions: Answer all questions to get your test result.
1) Finance is the business function that involves managing
A
production
B
marketing
C
money
D
information
2) The goals of the finance function are to ensure profitability and
A
reduce risks
B
advertise products
C
give out information
D
manufacture raw materials
3) Accounting is distinct from finance because its main focus is on
A
administration of assets
B
recordkeeping activities
C
money management decisions
D
acquisition of funds
4) The administration of assets refers to decisions about
A
financing
B
accounting
C
investments
D
spending
5) Decisions about financing refer to the
A
accounts receivable
B
acquisition of funds
C
administration of assets
D
accounting department
6) The finance function ensures that the company’s financial goals are
A
easy to accomplish
B
acceptable to the marketing department
C
in line with organizational priorities
D
related to product development
7) How does the finance function relate to company spending?
A
It produces reports about spending
B
It does not relate to spending
C
It plans and controls spending
D
It spends on investments only
8) Money the business owes is known as
A
assets
B
equity
C
accounts payable
D
accounts receivable
9) Money owed to the business is known as
A
accounts receivable
B
equity
C
accounts payable
D
assets
10) To keep communication flowing with other departments, the finance function depends on
A
marketing
B
accounts receivable
C
information systems
D
production
11) The finance function is usually responsible for which of the following processes:
A
Research
B
Manufacturing
C
Budgeting
D
Operations
12) The finance function would definitely be involved in a decision regarding
A
hiring
B
new business projects and strategies
C
public relations and publicity
D
personal selling
*select an answer for all questions
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