General Awareness: Economics Finance Quiz

1. Which of the following concepts are referred by the field of Finance?

a. Time
b. Money
c. Risk
d. Time, Money and Risk and how they are interrelated

The correct answer is d. Time, Money and Risk and how they are interrelated
   
2. Which of the following statements does the term Finance incorporates?

a. The study of money and other assets
b. The management and control of those assets
c. The science of managing money
d. All of them

The correct answer is d. All of them
   
3.  As a verb, "to finance" is to provide funds for business or for an individual's large purchases (car, home, etc.).

a. True
b. False

The correct answer is a. True

4. Which of the following professions deals with Finance?

a. Doctors
b. Engineers
c. Sports
d. Chartered Accountants
   
The correct answer is d. Chartered Accountants

5. Capital, in the financial sense, is the money which gives the business the power to buy goods to be used in the production of other goods or the offering of a service.

a. True
b. False

The correct answer is a. True
   
6. Which term is used for "Money which is used to purchase assets that will remain permanently in the business and help it to make a profit"?

a. Fixed Capital
b. Working Capital
c. Capital Budget
d. Cash Budget

The correct answer is a. Fixed Capital
   
7. Credit gives the customer the opportunity to buy goods and services, and pay for them at a later date.

a. True
b. False

The correct answer is a. True   

8.  The method of Depreciation for Intangible Assets is known as?

a. Appreciation
b. Amortization
c. Straight Line
d. Depreciation
   
The correct answer is b. Amortization

9.  How inflation hits a country economy?

a. when demand for a commodity is more than supply for the commodity
b. when supply more than demand
c. when change in the price of the commodity

The correct answer is a. when demand for a commodity is more than supply for the commodity
   
10. Who was the father of accounting ?

a. F.W.Taylor
b. Luca Pacioli
c. John Keynes
d. Adam Smith

The correct answer is b. Luca Pacioli