In the year of our Lord, 2019, it’s important to chase those checks, get that bread and secure the bag. It’s also very important to know the vital financial terms. I mean, why try so hard to make all those cash if you don’t understand some terms it comes with?
Let’s test the strength of your financial vocabulary with this quiz:
An individual who legally agrees to cover a loan in case the borrower is unable to repay is known as:
Correct!
Wrong!
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What is the sum of your earnings from a company before any deduction or taxes known as?
Correct!
Wrong!
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A thorough and in-depth examination of an individual or company’s finances is known as
Correct!
Wrong!
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This is the sum of money paid regularly by a company to its shareholders as a distribution of its profits
Correct!
Wrong!
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Which of these best describes the term ‘Bootstrapping’?
Correct!
Wrong!
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Assets that can be easily turned into cash are referred to as
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Wrong!
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A professionally managed investment fund made up of a pool of money contributed by shareholders to invest in stocks, bonds and other assets, is known as
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Wrong!
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PAYE is an acronym for
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Wrong!
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A tangible asset used to secure a bank loan is known as
Correct!
Wrong!
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Let’s Test Your Financial Vocabulary
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I NEVER KNOW ANYTHING ABOUT BUSINESS
BUT ONE THING I KNOW IN BUSINESS IS THAT IS NOT EVERYTIME THERE IS PROFIT.
I have to start saving for the future purposes because the way our nation is it’s going into inflation.
Weekly contribution
Monthly contribution
Local banks
Stop spending lavishly
Make a scale of preference of how you spend
Buying less
Savings
General contributions
Buying of shares