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