16789073
Description
Quiz by Thea Friend, updated more than 1 year ago
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Created by Thea Friend
almost 6 years ago
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Question 1
Question
What is an overdraft?
Answer
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An arrangement with the bank that the business can spend more money than it has in its bank account
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an amount of money borrowed from a bank or other lenders
Question 2
Question
Out of the following which is the long term sources of finance?
Answer
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Bank loans, Mortgage , Government grants
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Overdraft, trade credit, factoring
Question 3
Question
is a mortgage= a special type of loan for buying property where monthly payments are spread over a number of years
Answer
- True
- False
Question 4
Question
What is a grant?
Answer
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where a bank allows a firm to take out more money than in its bank account
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where suppliers deliver goods now and are willing to wait for a number of days before payment
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when charities or the government help a business get started
Question 5
Question
is a loan short term?
Answer
- True
- False
Question 6
Question
what is an external source?
Answer
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found outside the business eg. creditors or banks
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finance or funds found inside the business
Question 7
Question
What is factoring?
Answer
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where a firm sells their invoices to a factor such as a bank
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where a supplier delivers goods and are willing to wait a number of days for payment
Question 8
Question
Is external sources of finance found outside the business?
Answer
- True
- False
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