18191685
Description
Quiz by Taisiya Lebedeva, updated more than 1 year ago
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Created by Taisiya Lebedeva
almost 5 years ago
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Question 1
Question
A creditor is ...
Answer
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an individual or business that has lent funds to a business and is owed money
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an individual or business who has borrowed funds from a business and so owes it money
Question 2
Question
A debtor is ...
Answer
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an individual or business who has borrowed funds from a business and so owes it money
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an individual or business that has lent funds to a business and is owed money
Question 3
Question
Interest is the reward for lending
Answer
- True
- False
Question 4
Question
Tick all the short-term sources of finance
Answer
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Overdraft
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Mortgage
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Trade credit
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Factoring
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Hire purchase
Question 5
Question
Which two are the long-term sources of finance?
Answer
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Trade Credit
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Bank Loans
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Factoring
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Owners Savings
Question 6
Question
A business selling assets is an example of an external source of finance.
Answer
- True
- False
Question 7
Question
An arrangement with the bank that the business can spend more money than it has in its bank account
Answer
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Loan
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Overdraft
Question 8
Question
Which of the following best describes finance?
Answer
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Funds for a business
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Profits for a business
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Customers for a business
Question 9
Question
Grants usually come from private companies
Answer
- True
- False
Question 10
Question
What is the most likely source of finance for buying premises?
Answer
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Mortgage
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Factoring
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A bank loan
Question 11
Question
What is the most likely source of finance for a small firm?
Answer
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Issuing shares
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A bank loan
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A debenture
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