BADM 3030 - Chapter 1

1. 1Which function in a company is responsible for managing its financial resources?

   1. AAccounting
   2. BFinance
   3. CInternal audit
   4. DTreasury
2. 2Which function in a company is responsible for recording and reporting all its financial transactions?

   1. AAccounting
   2. BFinancing
   3. CInternal audit
   4. DTreasury
3. 3The [blank_start]General Ledger[blank_end] (G_____ L_____) is the principal accounting record

   1. AGeneral Ledger
4. 4GAAP stands for [blank_start]Generally Accepted Accounting Principles[blank_end] (G______ A_______ A______ P_________)

   1. AGenerally Accepted Accounting Principles
5. 5The finance department in every company has in theory two primary areas of responsibility:

   1. AImplementing controls and monitoring cash flows
   2. BSafeguarding assets and organizing/presenting data
   3. CPreparing financial statements and projecting budget data
   4. DNone of the above
6. 6In Chapter 1, the author compares financial statements to:

   1. Aan automobile dashboard
   2. Ban aircraft cockpit
   3. Ca report card
   4. Da news story chart or graph
7. 7World population is approximately [blank_start]7 billion[blank_end] people.

   1. A7 billion
8. 8GAAP is the basis upon which financial statement readers can:

   1. Agauge a company's progress
   2. Bcompare one company or one accounting period with another
   3. Cjudge the financial effectiveness of management's efforts
   4. Dall of the above
9. 9To safeguard its assets, a company will institute [blank_start]internal controls[blank_end] (i_____ c_______)

   1. Ainternal controls
10. 10From the Tim Jackson video, Economic Reality Check, what is the English word for the Latin root of the term "prosperity"? [blank_start]Hope[blank_end]

    1. AHope

Description

BADM 3030 Quiz on BADM 3030 - Chapter 1, created by celine a on 30/04/2018.

Author

celine a

Language

English

Views

6

Tags

badm 3030

Rating

No ratings yet

Rate this quiz

Rate this quiz

More on Financial Statements