Business Administration exam test
questions and answers graded A+
The Barnes Company has just opened an account for a customer with a credit limit of $2,000 and an
interest rate of 18%. This type of credit is a(n) _____________ credit account.
a. Installment.
b. Budget.
c. Regular.
d. Revolving. - ANS✅✅Revolving.
Paper money like the U.S. dollar, the euro, and the Indian rupee is also called
a. Discretionary income.
b. Fiat money.
c. Commodity money.
d. Fiduciary wealth. - ANS✅✅Fiat money.
Which of the following is one of the functions of money:
a. Method of investment.
b. Process of accounting.
c. System of inventory.
d. Medium of exchange. - ANS✅✅Medium of exchange.
If individuals are not self-employed, which of the following is a type of earned income they might
receive:
a. Trust disbursements.
b. Vacation pay.
c. Child support income.
d. Interest and dividends. - ANS✅✅Vacation pay.
Margaret recently took out a personal loan from her local bank. In exchange for receiving the loan,
Margaret agreed to pay an additional 6.9% of the original loan amount to the bank each year. 6.9% is
Margaret's
questions and answers graded A+
The Barnes Company has just opened an account for a customer with a credit limit of $2,000 and an
interest rate of 18%. This type of credit is a(n) _____________ credit account.
a. Installment.
b. Budget.
c. Regular.
d. Revolving. - ANS✅✅Revolving.
Paper money like the U.S. dollar, the euro, and the Indian rupee is also called
a. Discretionary income.
b. Fiat money.
c. Commodity money.
d. Fiduciary wealth. - ANS✅✅Fiat money.
Which of the following is one of the functions of money:
a. Method of investment.
b. Process of accounting.
c. System of inventory.
d. Medium of exchange. - ANS✅✅Medium of exchange.
If individuals are not self-employed, which of the following is a type of earned income they might
receive:
a. Trust disbursements.
b. Vacation pay.
c. Child support income.
d. Interest and dividends. - ANS✅✅Vacation pay.
Margaret recently took out a personal loan from her local bank. In exchange for receiving the loan,
Margaret agreed to pay an additional 6.9% of the original loan amount to the bank each year. 6.9% is
Margaret's
