Question 1

Receipts and Disbursements are the main headings on which of the following financial statements?

Accepted Answer

A)  Balance sheet 
B)  Cash flow 
C)  Income 
D)  Breakeven 
A)  Balance sheet 
B)  Cash flow 
C)  Income 
D)  Breakeven

Question 2

The balance sheet equation is:

Accepted Answer

A)  Assets= Liabilities + Shareholder equity. 
B)  Liabilities-Assets= WIP. 
C)  Assets + Liabilities= Shareholder equity. 
D)  WIP= Assets + Liabilities. 
A)  Assets= Liabilities + Shareholder equity. 
B)  Liabilities-Assets= WIP. 
C)  Assets + Liabilities= Shareholder equity. 
D)  WIP= Assets + Liabilities.

Question 3

Fortunately, taxes do not affect cash flow because they are deposited into separate accounts and dispersed later.

Accepted Answer

A) True 
 B)False

Question 4

The "Runway" refers to:

Accepted Answer

A)  How often the company turns over inventory. 
B)  How long the company has been in business. 
C)  How many months it would take for the company to run out of money. 
D)  The time in which it takes to calculate the COH. 
A)  How often the company turns over inventory. 
B)  How long the company has been in business. 
C)  How many months it would take for the company to run out of money. 
D)  The time in which it takes to calculate the COH.

Question 5

Which of the following is NOT one of the three principals to resolve ethical dilemmas?

Accepted Answer

A)  Employee agreement 
B)  The gut-feel test 
C)  Analysis of conflicts 
D)  Full disclosure 
A)  Employee agreement 
B)  The gut-feel test 
C)  Analysis of conflicts 
D)  Full disclosure

Question 6

__________ are costs that are assigned to inventory before being sold.

Accepted Answer

The answer of __________ are costs that are assigned to...

Question 7

Preparation of a monthly cash flow statement is recommended in order to:

Accepted Answer

A)  Periodically assess the company's cash position. 
B)  Keep the accountant busy. 
C)  Determine inventory levels. 
D)  They are not recommended. 
A)  Periodically assess the company's cash position. 
B)  Keep the accountant busy. 
C)  Determine inventory levels. 
D)  They are not recommended.

Question 8

Net profit (or loss) = variable costs - total expenses.

Accepted Answer

A) True 
 B)False

Question 9

The breakeven point is the level of activity (units) at which:

Accepted Answer

A)  Revenues equal contribution. 
B)  Variable costs equal fixed costs. 
C)  Total revenue equal costs. 
D)  Fixed costs equal contribution. 
A)  Revenues equal contribution. 
B)  Variable costs equal fixed costs. 
C)  Total revenue equal costs. 
D)  Fixed costs equal contribution.

Question 10

The Balance Sheet:

Accepted Answer

A)  is a reflection of economic value. 
B)  reflects what the business is worth and its resale value. 
C)  takes inflation into account. 
D)  is based on historical costs and may not reflect economic value, worth, and resale value. 
A)  is a reflection of economic value. 
B)  reflects what the business is worth and its resale value. 
C)  takes inflation into account. 
D)  is based on historical costs and may not reflect economic value, worth, and resale value.

Receipts and Disbursements are the main headings on which of the following financial statements?

The balance sheet equation is:

Fortunately, taxes do not affect cash flow because they are deposited into separate accounts and dispersed later.

The "Runway" refers to:

Which of the following is NOT one of the three principals to resolve ethical dilemmas?

__________ are costs that are assigned to inventory before being sold.

Preparation of a monthly cash flow statement is recommended in order to:

Net profit (or loss) = variable costs - total expenses.

The breakeven point is the level of activity (units) at which:

The Balance Sheet:

Understanding the Entrepreneurial Process

Converting Ideas Into Opportunities

Framing and Testing the Business Model

Engaging Customers, Analyzing Competitors, for Market Entry Strategy

Preparing the Investor Package

Setting up the Company

Protecting Intellectual Property

Launching and Financing Your Venture

Equity Financing for High Growth

Pitching the Venture to Investors

Planning Your Exit

Filters

Exam 10: Managing Start-Up Performance/money and People

Receipts and Disbursements are the main headings on which of the following financial statements?

The balance sheet equation is:

Fortunately, taxes do not affect cash flow because they are deposited into separate accounts and dispersed later.

The "Runway" refers to:

Which of the following is NOT one of the three principals to resolve ethical dilemmas?

__________ are costs that are assigned to inventory before being sold.

Preparation of a monthly cash flow statement is recommended in order to:

Net profit (or loss) = variable costs - total expenses.

The breakeven point is the level of activity (units) at which:

The Balance Sheet:

Understanding the Entrepreneurial Process

Converting Ideas Into Opportunities

Framing and Testing the Business Model

Engaging Customers, Analyzing Competitors, for Market Entry Strategy

Preparing the Investor Package

Setting up the Company

Protecting Intellectual Property

Launching and Financing Your Venture

Equity Financing for High Growth

Pitching the Venture to Investors

Planning Your Exit

Filters