FutureSmart Module 5 – Growing a Business | Exam Questions with Answers

Future Smart Module #5: Growing A

Business Exam Questions with Answers

Which of the following is NOT a benefit of putting money in a savings account?




a. You can make frequent withdrawals


b. You can earn interest


c. It is harder to spend the money


d. The money is safe and secure - ANS -a. You can make frequent withdrawals




Aaron wants to open a savings account. Which account will grow his money the most?




a. Account 1 - Interest rate 2%, Interest compounded daily


b. Account 2 - Interest rate 1%, Interest compounded daily


c. Account 3 - Interest rate 2%, Interest compounded semi-annually


d. Account 4 - Interest rate 1%, Interest compounded annually - ANS -a. Account 1 - Interest rate 2%,

Interest compounded daily




Revenue is:

, a. The amount of money a company pays its employees b. The amount of money a company has left

after paying bills


c. The amount of money a company makes from sales


d. The amount of taxes a company has to pay - ANS -c. The amount of money a company makes from

sales




The average price of a gallon of milk increased from $3.00 last year to $3.50 this year. This is most

likely due to ______________________.




a. inflation


b. the stock market


c. deflation


d. the market basket - ANS -a. inflation




Which interest-bearing account is best for people who won't need access to their money for more

than a year?




a. Savings Account


b. Checking Account