Role Of Finance Question Preview (ID: 17655)


How Much Do You Know About The Role Of Finance In A Small Business. TEACHERS: click here for quick copy question ID numbers.

Identify the document prepared to calculate the amount of cash available at the end of each month.
a) Trading Account
b) Profit and Loss Account
c) Cash Budget
d) Statement

Identify the term used to describe the cash available at the end of each month.
a) Cash left over
b) Opening balance
c) Closing Balance
d) Profit

Identify how sales would be recorded in a cash budget.
a) Receipt or Income
b) Profit or Loss
c) Payment or Expenditure
d) Cash or Bank

This facility allows a business to spend more in a month than may actually be in the business bank account. This is known as a
a) Bank loan
b) Bank interest
c) Bank business
d) Bank overdraft

If a company forecasts low cash funds over a certain number of months a loan could be a possible solution. Identify which of the following is true.
a) No money needs to be repaid
b) Must be repaid within a specified time with interest
c) Must be repaid within a month
d) Must be repaid with a year if the business succeeds.

This source of finance may be issued by the Princes Trust and does not require to be repaid. This is an example of a
a) bank loan
b) bank overdraft
c) grant
d) personal savings

One of the main reasons for a business is to
a) make a profit
b) get up whenever you like
c) leave school
d) have a job without working

The term used to describe the money made on buying and selling stock is known as
a) Net Profit
b) Gross Profit
c) Opening balance
d) Trading account

Net profit would increase if
a) Wages increase
b) Purchases increase
c) petrol increases
d) selling price increases

Identify the term used to describe the money left over after all business expenses have been taken into account after profit on trading stock has been calculated.
a) Net Profit
b) Profit
c) Gross Profit
d) Interest

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