ACC Business Review Final Exam
Simplified Exam Questions with 100% Correct Answers
What is a VPN? - Virtual Private Networks. Use shared public resources, lower cost than an
extranet, allows for on-demand networking-enterprise portal.
What are debts known as? - Liabilities
Review biological data. - _____________________, including fingerprinting and biometric
devices
What is the intranet? - companywide network closed to public access that uses Internet-type
technology.
What is the extranet? - semiprivate network that uses Internet technology and allows more
than one company to access the same information or allows people on different servers to
collaborate.
Why would a firm establish a firewall? - To prevent unauthorized access by outsiders,
companies use a ___________ consisting of hardware, software, or both, that allows only
authorized users access to the intranet.
One of the most common ways for a firm to fail financially is ______________? - a.
UNDERCAPITALIZATION or not enough funds to start with.
b. Poor CASH FLOW or cash in minus cash out.
c. INADEQUATE EXPENSE CONTROL.
, How does the Fed Reserve decrease the money supply? - INCREASING THE DISCOUNT
RATE discourages banks from borrowing and consequently reduces the number of available
loans, resulting in a __________________________.
How does the Fed Reserve increase the money supply? - LOWERING THE DISCOUNT
RATE encourages bank borrowing and increases the amount of funds available for loans,
resulting in an ____________________________.
What is the FDIC? - The Federal Deposit Insurance Corporation is an independent agency of
the U.S. government that insures bank accounts.
1. If a bank were to be in serious danger, the _______ would arrange to have its accounts
transferred to another bank or pay off depositors up to $250,000 per account.
2. The goal is to maintain confidence in banks so that if one falls others don't.
3. The ______ covers many institutions, mostly commercial banks.
Know the definition of liquidity. - __________________ refers to how fast an asset can be
converted into cash.
What is a trial balance? - A summary of all the data in the account ledgers to show whether
the figures are correct and balanced.
What is the Critical Infrastructure Protection Board? - The __________________ was
created to improve the security of America's critical infrastructure.
a. In order to do this, the agency needs the cooperation of businesses.
b. However, many CIOs are reluctant to cooperate and reveal security breaches.
Review the practice of factoring. - ____________________, the process of selling accounts
receivable for cash, is relatively expensive.
a. ________ is a market intermediary that agrees to buy the accounts receivable from the firm at
a discount for cash.
Simplified Exam Questions with 100% Correct Answers
What is a VPN? - Virtual Private Networks. Use shared public resources, lower cost than an
extranet, allows for on-demand networking-enterprise portal.
What are debts known as? - Liabilities
Review biological data. - _____________________, including fingerprinting and biometric
devices
What is the intranet? - companywide network closed to public access that uses Internet-type
technology.
What is the extranet? - semiprivate network that uses Internet technology and allows more
than one company to access the same information or allows people on different servers to
collaborate.
Why would a firm establish a firewall? - To prevent unauthorized access by outsiders,
companies use a ___________ consisting of hardware, software, or both, that allows only
authorized users access to the intranet.
One of the most common ways for a firm to fail financially is ______________? - a.
UNDERCAPITALIZATION or not enough funds to start with.
b. Poor CASH FLOW or cash in minus cash out.
c. INADEQUATE EXPENSE CONTROL.
, How does the Fed Reserve decrease the money supply? - INCREASING THE DISCOUNT
RATE discourages banks from borrowing and consequently reduces the number of available
loans, resulting in a __________________________.
How does the Fed Reserve increase the money supply? - LOWERING THE DISCOUNT
RATE encourages bank borrowing and increases the amount of funds available for loans,
resulting in an ____________________________.
What is the FDIC? - The Federal Deposit Insurance Corporation is an independent agency of
the U.S. government that insures bank accounts.
1. If a bank were to be in serious danger, the _______ would arrange to have its accounts
transferred to another bank or pay off depositors up to $250,000 per account.
2. The goal is to maintain confidence in banks so that if one falls others don't.
3. The ______ covers many institutions, mostly commercial banks.
Know the definition of liquidity. - __________________ refers to how fast an asset can be
converted into cash.
What is a trial balance? - A summary of all the data in the account ledgers to show whether
the figures are correct and balanced.
What is the Critical Infrastructure Protection Board? - The __________________ was
created to improve the security of America's critical infrastructure.
a. In order to do this, the agency needs the cooperation of businesses.
b. However, many CIOs are reluctant to cooperate and reveal security breaches.
Review the practice of factoring. - ____________________, the process of selling accounts
receivable for cash, is relatively expensive.
a. ________ is a market intermediary that agrees to buy the accounts receivable from the firm at
a discount for cash.
