Question

Question 1

Revenue is:



Question 1 options:

A)

The amount of money a company pays its employees


B)

The amount of money a company has left over after paying bills


C)

The amount of money a company makes from sales


D)

The amount of taxes a company has to pay

Question 2 (1 point)
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 ______________________

Question 2 options:

A)

Inflation


B)

The stock market


C)

Deflation


D)

The market basket

Question 3
Which interest-bearing account is best for people who won’t need access to their
money for several months of longer?

Question 3 options:

A)

Savings Account


B)

Checking Account


C)

Certificate of Deposit


D)

Credit Card

Question 4
Why would you put money into a savings account?

Question 4 options:

A)

To make frequent withdrawals at ATM’s?


B)

To earn interest on your money


C)

To access the money from this account with personal checks


D)

To easily access money from this account with a debit card

Question 5
What is the first step you should take when you want to open a savings account?

Question 5 options:

A)

Go to the bank and fill out an application


B)

Review the different account options that your bank offers


C)

Present your photo ID to the bank representative


D)

Make your initial deposit

Question 6
Aaron wants to open a savings account. Which account will grow his money the
most?

Question 6 options:

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

Question 7
A loss is when:

Question 7 options:

A)

Revenue is greater than expenses


B)

Revenue is less than expenses


C)

Revenue is equal to expenses


D)

None of the above

Question 8
You sister is looking for a way to increase the amount of interest she is earning on
her savings account. What should she do?

Question 8 options:

A)

Use the money from her savings account to open a checking account
instead


B)

Make monthly withdrawals from her savings account


C)

Switch to a savings account with a lower interest rate


D)

Deposit money into her savings account each month

Question 9
What is required when opening a checking account?

Question 9 options:

A)

An Initial Deposit


B)

A Salary


C)

A Credit Card


D)

A copy of your last paycheck

Question 10
Which of the following best describes deflation?

Question 10 options:

A)

A decrease in the cost of goods and services


B)

An increase in the cost of goods and services


C)

A decrease in purchases of a good or service


D)

An increase in purchases of a good or service

Answer 1

Question 1

Revenue is:

Answer: The amount of money a company makes from sales

Question 2

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 ...

Answer: Inflation

Question 3

Which interest-bearing account is best for people who won’t need access to their money for several months or longer?

Answer: Certificate of Deposit

Question 4

Why would you put money into a savings account?

Answer: To earn interest on your money

Question 5

What is the first step you should take when you want to open a savings account?

Answer: Review the different account options that your bank offers

Question 6

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

Answer: Account 1 - Interest rate 2%, Interest compounded daily (I'm not sure on this one)

Question 7

A loss is when:

Answer: Revenue is less than expenses

Question 8

Your sister is looking for a way to increase the amount of interest she is earning on her savings account. What should she do?

Answer: Deposit money into her savings account each month

Question 9

What is required when opening a checking account?

Answer: An Initial Deposit

Question 10

Which of the following best describes deflation?

Answer: An increase in the cost of goods and services