FIN 301 | Questions with 100% Verified Answers | Latest Update
2026/2027
Question: In addition to the importance of finance for marketing,
accounting, and management careers, finance is also now
considered a _____ discipline, especially at the graduate level.
Answer:
STEM
Question: A sole proprietorship is a business owned by ______ person(s).
Answer:
ONE
Question: A partnership must have at least _______ owners.
Answer:
TWO
Question: When a corporation is formed, it is granted which of the
following rights?
Answer:
The ability to issue stock
Legal powers to sue
State citizenship for jurisdictional purposes
Question: The five main areas of finance are corporate finance, _____,
financial institutions, international finance, and fintech.
Answer:
Investments
Question: Joint stock company is another name for what is referred to as
a in the United States.
Answer:
Corporation
Question: A ___________ corporation is for profit, and has the legal attributes
of accountability, transparency, and purpose.
Answer:
Benefit
,Question: A sole proprietorship is a business that _______.
Answer:
Is owned by one person
Question: Which of the following, according to the textbook, are
possible financial goals for a company?
Minimize costs
Maximize profits
Incur bankruptcy
Survival
Answer:
Minimize costs, max profits, survival
Question: A business without separate legal authority formed by two or
more people is known as a _____.
conglomerate
corporation
sole proprietorship
partnership
Answer:
Partnership
Question: The corporate goal involving bankruptcy avoidance, stability,
and safety relate to controlling _______.
Answer:
Risk
Question: A corporation is a distinct ______ entity and as such can have a
name and take advantage of the legal powers of natural
persons.
retributive
patriotic
illegal
legal
Answer:
Legal
, Question: Corporations in other countries are often called:
re-calibrated partnerships.
autonomous entities.
public limited companies.
joint stock companies.
Answer:
public limited companies, joint stock
Question: What is the main goal of financial management?
To maximize current value per share of existing stock
To maximize share of the stock holdings of managers of the
company
To maximize profits
To minimize expenses
Answer:
To maximize current value per share of existing stock
Question: A benefit corporation is for profit, and has the legal attributes
of accountability, _____, and purpose.
transparency
cooperation
taxation
Answer:
transparency
Question: Because shareholders get paid last after all other obligations
are satisfied, they are often called _____.
stakeholders
preferred shareholders
creditors
residual owners
Answer:
residual owners
Question: The possible goal of profit maximization _____.
should always be a short-term goal
can be achieved by cost-cutting
would probably be the most commonly sighted goal for a
business
avoids maximizing the sales
Answer:
can be achieved by cost-cutting
would probably be the most commonly sighted goal for a business
2026/2027
Question: In addition to the importance of finance for marketing,
accounting, and management careers, finance is also now
considered a _____ discipline, especially at the graduate level.
Answer:
STEM
Question: A sole proprietorship is a business owned by ______ person(s).
Answer:
ONE
Question: A partnership must have at least _______ owners.
Answer:
TWO
Question: When a corporation is formed, it is granted which of the
following rights?
Answer:
The ability to issue stock
Legal powers to sue
State citizenship for jurisdictional purposes
Question: The five main areas of finance are corporate finance, _____,
financial institutions, international finance, and fintech.
Answer:
Investments
Question: Joint stock company is another name for what is referred to as
a in the United States.
Answer:
Corporation
Question: A ___________ corporation is for profit, and has the legal attributes
of accountability, transparency, and purpose.
Answer:
Benefit
,Question: A sole proprietorship is a business that _______.
Answer:
Is owned by one person
Question: Which of the following, according to the textbook, are
possible financial goals for a company?
Minimize costs
Maximize profits
Incur bankruptcy
Survival
Answer:
Minimize costs, max profits, survival
Question: A business without separate legal authority formed by two or
more people is known as a _____.
conglomerate
corporation
sole proprietorship
partnership
Answer:
Partnership
Question: The corporate goal involving bankruptcy avoidance, stability,
and safety relate to controlling _______.
Answer:
Risk
Question: A corporation is a distinct ______ entity and as such can have a
name and take advantage of the legal powers of natural
persons.
retributive
patriotic
illegal
legal
Answer:
Legal
, Question: Corporations in other countries are often called:
re-calibrated partnerships.
autonomous entities.
public limited companies.
joint stock companies.
Answer:
public limited companies, joint stock
Question: What is the main goal of financial management?
To maximize current value per share of existing stock
To maximize share of the stock holdings of managers of the
company
To maximize profits
To minimize expenses
Answer:
To maximize current value per share of existing stock
Question: A benefit corporation is for profit, and has the legal attributes
of accountability, _____, and purpose.
transparency
cooperation
taxation
Answer:
transparency
Question: Because shareholders get paid last after all other obligations
are satisfied, they are often called _____.
stakeholders
preferred shareholders
creditors
residual owners
Answer:
residual owners
Question: The possible goal of profit maximization _____.
should always be a short-term goal
can be achieved by cost-cutting
would probably be the most commonly sighted goal for a
business
avoids maximizing the sales
Answer:
can be achieved by cost-cutting
would probably be the most commonly sighted goal for a business
