©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
NOCTI: Financial and Investment
Planning Practice Questions and
Answers (100% Pass)
How do use accounting procedures in a financial environment? -
Answer✔️✔️--bookkeeping
-month-end close
-taxes
-payroll
-personal finances
How do you employ marketing procedures to forward organizational
goals? - Answer✔️✔️--to promote the business
-earn more customers
-earn revenue by drawing customers in
How to utilize customer service skills to work effectively with customers? -
Answer✔️✔️--surveys
-informations on customer
-expending habits
-demographic
-psychographics
1
,©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
How to perform accounting function with computers and related software?
- Answer✔️✔️--excel
-journal entries
-balance sheets
-financial documents
The balance according to the bank statement is $35,782. Outstanding checks
total $19,573. Deposits in transit total $7,210. What is the adjusted bank
balance? - Answer✔️✔️-$23,419
An invoice dated on March 10 with the terms 3/60, n/90 means that a 3
percent discount will be given if the invoice is paid on or before -
Answer✔️✔️-May 9
What is a non-taxable source of income? - Answer✔️✔️-Child support
payments
What are examples of good accounting skills? - Answer✔️✔️--business
knowledge
-tech. skills
-communication skills
-leadership
Top Five Skills? - Answer✔️✔️--big data analysis
-coding and programing
2
,©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
-project management
-social media experience
-technical writing
Asset - Answer✔️✔️-property owned by a person or company, regarded as
having value and available to meet debts, commitments, or legacies.
Equity - Answer✔️✔️-the value of the shares issued by a company.
Liability - Answer✔️✔️-a thing for which someone is responsible, especially
a debt or financial obligation.
Capital - Answer✔️✔️-wealth in the form of money or other assets owned by
a person or organization or available or contributed for a particular
purpose such as starting a company or investing.
Investment - Answer✔️✔️-The action of process of investing money for
profit or material result.
Stock - Answer✔️✔️-the goods or merchandise kept on the premises of a
business or warehouse and available for sale or distribution.
Balance Sheet - Answer✔️✔️-a statement of the assets, liabilities, and capital
of a business or other organization at a particular point in time, detailing
the balance of income and expenditure over the preceding period.
Income Statement - Answer✔️✔️-A financial statement showing the revenue
and expenses for a fiscal period.
3
, ©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
Statement of Cash Flows - Answer✔️✔️-A financial statement that provides
financial information about the cash receipts and cash payments of a
business for a specific period of time.
Statement of Owner's Equity - Answer✔️✔️-record of the change in owners'
equity from the end of one fiscal period to the end of the next
Net income - Answer✔️✔️-the difference between total revenue and total
expenses when total revenue is greater
Bond - Answer✔️✔️-A debt instrument, a bond is essentially a loan that you
are giving to the government or a company in exchange for a pre-set
interest rate.
Stock - Answer✔️✔️-A type of investment that gives you partial ownership
of a publicly traded company.
Mutual Fund - Answer✔️✔️-An investment vehicle that allows you to invest
your money in a professionally-managed portfolio of assets that,
depending on the specific fund, could contain a variety of stocks, bonds, or
other investments.
Exchange-traded fund (ETF): - Answer✔️✔️-Funds - sometimes referred to
as baskets or portfolios of securities - that trade like stocks on an exchange.
When you purchase an ETF, you are purchasing shares of the overall fund
rather than actual shares of the individual underlying investments.
4
NOCTI: Financial and Investment
Planning Practice Questions and
Answers (100% Pass)
How do use accounting procedures in a financial environment? -
Answer✔️✔️--bookkeeping
-month-end close
-taxes
-payroll
-personal finances
How do you employ marketing procedures to forward organizational
goals? - Answer✔️✔️--to promote the business
-earn more customers
-earn revenue by drawing customers in
How to utilize customer service skills to work effectively with customers? -
Answer✔️✔️--surveys
-informations on customer
-expending habits
-demographic
-psychographics
1
,©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
How to perform accounting function with computers and related software?
- Answer✔️✔️--excel
-journal entries
-balance sheets
-financial documents
The balance according to the bank statement is $35,782. Outstanding checks
total $19,573. Deposits in transit total $7,210. What is the adjusted bank
balance? - Answer✔️✔️-$23,419
An invoice dated on March 10 with the terms 3/60, n/90 means that a 3
percent discount will be given if the invoice is paid on or before -
Answer✔️✔️-May 9
What is a non-taxable source of income? - Answer✔️✔️-Child support
payments
What are examples of good accounting skills? - Answer✔️✔️--business
knowledge
-tech. skills
-communication skills
-leadership
Top Five Skills? - Answer✔️✔️--big data analysis
-coding and programing
2
,©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
-project management
-social media experience
-technical writing
Asset - Answer✔️✔️-property owned by a person or company, regarded as
having value and available to meet debts, commitments, or legacies.
Equity - Answer✔️✔️-the value of the shares issued by a company.
Liability - Answer✔️✔️-a thing for which someone is responsible, especially
a debt or financial obligation.
Capital - Answer✔️✔️-wealth in the form of money or other assets owned by
a person or organization or available or contributed for a particular
purpose such as starting a company or investing.
Investment - Answer✔️✔️-The action of process of investing money for
profit or material result.
Stock - Answer✔️✔️-the goods or merchandise kept on the premises of a
business or warehouse and available for sale or distribution.
Balance Sheet - Answer✔️✔️-a statement of the assets, liabilities, and capital
of a business or other organization at a particular point in time, detailing
the balance of income and expenditure over the preceding period.
Income Statement - Answer✔️✔️-A financial statement showing the revenue
and expenses for a fiscal period.
3
, ©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM
Statement of Cash Flows - Answer✔️✔️-A financial statement that provides
financial information about the cash receipts and cash payments of a
business for a specific period of time.
Statement of Owner's Equity - Answer✔️✔️-record of the change in owners'
equity from the end of one fiscal period to the end of the next
Net income - Answer✔️✔️-the difference between total revenue and total
expenses when total revenue is greater
Bond - Answer✔️✔️-A debt instrument, a bond is essentially a loan that you
are giving to the government or a company in exchange for a pre-set
interest rate.
Stock - Answer✔️✔️-A type of investment that gives you partial ownership
of a publicly traded company.
Mutual Fund - Answer✔️✔️-An investment vehicle that allows you to invest
your money in a professionally-managed portfolio of assets that,
depending on the specific fund, could contain a variety of stocks, bonds, or
other investments.
Exchange-traded fund (ETF): - Answer✔️✔️-Funds - sometimes referred to
as baskets or portfolios of securities - that trade like stocks on an exchange.
When you purchase an ETF, you are purchasing shares of the overall fund
rather than actual shares of the individual underlying investments.
4
