FBLA Testing Exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+

FBLA Testing Exam | Questions and Correct Solutions | Latest Update 2024/2025 | Graded A+ What is another name for simple average? - Answer -(B) Mean Which of the following is NOT a step in finding the gross wage for an employee who has worked both regular time and overtime hours? - Answer -(A) Find the employee's annual average income over the past 3 years Which method are most companies LEAST likely to use to record the number of hours their employees work? - Answer -(D) Employees keep track of their hours worked mentally What is the primary reason for writing a budget? - Answer -(D) To help allocate future income The term that describes the numerical value where the interest rate and number of interest periods meet in a compound interest table is the..? - Answer -(B) Multiplier Which of the following services are typically available to customers with online banking? - Answer -(D) All of the above *Transfer money between accounts *Have bills sent electronically instead of through the mail*Have account access 24 hours a day, 7 days a week Which of the following best describes how compound interest works? - Answer -(B) Interest is calculated and added to the previous balance to become the new balance Which of the following describes how to calculate simple interest? - Answer -(D) Interest = Principal x Rate x Time Why do banks typically assess service charges? - Answer -(A) For handling a customer's checking acc