6.02_FI354 POB Review Part A Question Preview (ID: 59172)


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Finance is the business function that involves managing
a) information
b) money
c) marketing
d) production

The goals of the finance function are to ensure profitability and
a) advertise products
b) manufacture raw materials
c) give out information
d) reduce risks

Accounting is distinct from finance because its main focus is on
a) recordkeeping activities
b) money management decisions
c) administration of assets
d) acquisition of funds

The administration of assets refers to decisions about
a) accounting
b) spending
c) investments
d) financing

Decisions about financing refer to the
a) accounts receivable
b) acquisition of funds
c) administration of assets
d) accounting department

The finance function ensures that the company’s financial goals are
a) acceptable to the marketing department
b) related to product development
c) easy to accomplish
d) in line with organizational priorities

How does the finance function relate to company spending?
a) It plans and controls spending
b) It produces reports about spending
c) It spends on investments only
d) It does not relate to spending

Money the business owes is known as
a) equity
b) assets
c) accounts payable
d) accounts receivable

Money owed to the business is known as
a) equity
b) assets
c) accounts payable
d) accounts receivable

To keep communication flowing with other departments, the finance function depends on
a) accounts receivable
b) information systems
c) marketing
d) production

The finance function is usually responsible for which of the following processes:
a) Budgeting
b) Manufacturing
c) Operations
d) Research

The finance function would definitely be involved in a decision regarding
a) public relations and publicity
b) personal selling
c) new business projects and strategies
d) hiring

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