FI-354 POSTTEST EXAM UPDATED QUESTIONS AND ANSWERS
Finance is the business function that involves managing - CORRECT ANSWER✅✅money.
The goals of the finance function are to ensure profitability and - CORRECT ANSWER✅✅reduce risks.
Accounting is distinct from finance because its main focus is on - CORRECT ANSWER✅✅recordkeeping
activities.
The administration of assets refers to decisions about - CORRECT ANSWER✅✅investments.
Decisions about financing refer to the - CORRECT ANSWER✅✅acquisition of funds.
The finance function ensures that the company's financial goals are - CORRECT ANSWER✅✅in line with
organizational priorities.
How does the finance function relate to company spending? - CORRECT ANSWER✅✅It plans and
controls spending.
Money the business owes is known as - CORRECT ANSWER✅✅accounts payable.
Money owed to the business is known as - CORRECT ANSWER✅✅accounts receivable.
To keep communication flowing with other departments, the finance function depends on - CORRECT
ANSWER✅✅information systems.
The finance function is usually responsible for which of the following processes: - CORRECT
ANSWER✅✅Budgeting
The finance function would definitely be involved in a decision regarding - CORRECT ANSWER✅✅new
business projects and strategies.
Finance is the business function that involves managing - CORRECT ANSWER✅✅money.
The goals of the finance function are to ensure profitability and - CORRECT ANSWER✅✅reduce risks.
Accounting is distinct from finance because its main focus is on - CORRECT ANSWER✅✅recordkeeping
activities.
The administration of assets refers to decisions about - CORRECT ANSWER✅✅investments.
Decisions about financing refer to the - CORRECT ANSWER✅✅acquisition of funds.
The finance function ensures that the company's financial goals are - CORRECT ANSWER✅✅in line with
organizational priorities.
How does the finance function relate to company spending? - CORRECT ANSWER✅✅It plans and
controls spending.
Money the business owes is known as - CORRECT ANSWER✅✅accounts payable.
Money owed to the business is known as - CORRECT ANSWER✅✅accounts receivable.
To keep communication flowing with other departments, the finance function depends on - CORRECT
ANSWER✅✅information systems.
The finance function is usually responsible for which of the following processes: - CORRECT
ANSWER✅✅Budgeting
The finance function would definitely be involved in a decision regarding - CORRECT ANSWER✅✅new
business projects and strategies.
