Business Finance Final Exam Study Guide
Latest Update 2025-2026 80 Questions and 100%
Verified Correct Answers Guaranteed A+
Account transaction - CORRECT ANSWER: the act of recording an activity that results
in a change in value of an organization's resource
Accounting cycle - CORRECT ANSWER: a series of steps performed to ensure the
completeness and accuracy of accounting records and to prepare summary financial
statements
Accounts Payable - CORRECT ANSWER: Liability Current
Accounts Receivable - CORRECT ANSWER: Asset Current
Annual Report - CORRECT ANSWER: a statement of a company's operating and
financial performance issued at the end of its fiscal year
Assets - CORRECT ANSWER: all of the things a business owns and uses as a part of
business operations
Balance Sheet - CORRECT ANSWER: identifies the assets, liabilities, and equity of a
business as of a specified date
Basic Accounting Equation - CORRECT ANSWER: Assets=Liabilities + Owner's Equity
Bear Market . - CORRECT ANSWER: The market is doing poorly and investors are not
purchasing stocks or selling stocks already owned
, Benchmark Company - CORRECT ANSWER: a competitor that has historically
demonstrated outstanding financial performance used to establish financial
performance goals
Broker - CORRECT ANSWER: .A person who is licensed to buy and sell stocks, provide
investment advice, and collect a commission on each purchase or sale
Building - CORRECT ANSWER: Asset Long Term
Bull Market - CORRECT ANSWER: . The market is doing well because investors are
optimistic about the economy and are purchasing stocks
Calculate Dividends - CORRECT ANSWER: Number of shares x Stock price per share
Cash - CORRECT ANSWER: Asset Current
Cash Flow Statement - CORRECT ANSWER: shows how cash is used by a business
during a specified time period
Chief Executive Officer - CORRECT ANSWER: charged with carrying out the strategy
and policy of the board of directors
Chief Financial Officer - CORRECT ANSWER: responsible for planning and managing a
company's financial resources
Dan pays $80 each month for his automobile insurance policy. This regular payment is
called a - CORRECT ANSWER: Premium
Depreciation - CORRECT ANSWER: a decline in the value of an asset as it ages
Latest Update 2025-2026 80 Questions and 100%
Verified Correct Answers Guaranteed A+
Account transaction - CORRECT ANSWER: the act of recording an activity that results
in a change in value of an organization's resource
Accounting cycle - CORRECT ANSWER: a series of steps performed to ensure the
completeness and accuracy of accounting records and to prepare summary financial
statements
Accounts Payable - CORRECT ANSWER: Liability Current
Accounts Receivable - CORRECT ANSWER: Asset Current
Annual Report - CORRECT ANSWER: a statement of a company's operating and
financial performance issued at the end of its fiscal year
Assets - CORRECT ANSWER: all of the things a business owns and uses as a part of
business operations
Balance Sheet - CORRECT ANSWER: identifies the assets, liabilities, and equity of a
business as of a specified date
Basic Accounting Equation - CORRECT ANSWER: Assets=Liabilities + Owner's Equity
Bear Market . - CORRECT ANSWER: The market is doing poorly and investors are not
purchasing stocks or selling stocks already owned
, Benchmark Company - CORRECT ANSWER: a competitor that has historically
demonstrated outstanding financial performance used to establish financial
performance goals
Broker - CORRECT ANSWER: .A person who is licensed to buy and sell stocks, provide
investment advice, and collect a commission on each purchase or sale
Building - CORRECT ANSWER: Asset Long Term
Bull Market - CORRECT ANSWER: . The market is doing well because investors are
optimistic about the economy and are purchasing stocks
Calculate Dividends - CORRECT ANSWER: Number of shares x Stock price per share
Cash - CORRECT ANSWER: Asset Current
Cash Flow Statement - CORRECT ANSWER: shows how cash is used by a business
during a specified time period
Chief Executive Officer - CORRECT ANSWER: charged with carrying out the strategy
and policy of the board of directors
Chief Financial Officer - CORRECT ANSWER: responsible for planning and managing a
company's financial resources
Dan pays $80 each month for his automobile insurance policy. This regular payment is
called a - CORRECT ANSWER: Premium
Depreciation - CORRECT ANSWER: a decline in the value of an asset as it ages
