BA 323 BRINCKS EXAM 1 2026 UPDATE
QUESTIONS AND CORRECT VERIFIED
ASWERS ALREADY GRADED A+
(BRAND NEW VISION)
Financial services - ANS-is the area of finance concerned with the design and
delivery of advice and financial products to individuals, businesses, and
governments.
Managerial finance - ANS-is concerned with the duties of the financial manager
working in a business. Involves tasks such as budgeting, financial forecasting,
cash management, and funds procurement.
Finance is described as... - ANS-the art and science of managing money
Managerial finance is concerned with the delivery of advice for financial products such
as mutual funds - ANS-False
The financial analyst is in charge of controlling the firm's daily cash balance - ANS-
False... cash manager
The treasurer - ANS-is commonly responsible for handling financial activities,
such as financial planning and fund raising, making capital expenditure
decisions, managing cash, managing credit activities, managing the pension
fund, and managing foreign exchange.
The controller - ANS-typically handles the accounting activities, such as corporate
accounting, tax management, financial accounting, and cost accounting.
What percentage of businesses are sole proprietorships? - ANS-75%
It is difficult to transfer ownership in a partnership, but it is easy if the business is
organized as a corporation. This is a weakness of the partnership, but a strength for the
corporation. - ANS-True
In partnerships, owners have unlimited liability and may have to cover debts of other
less financially sound partners. - ANS-True
, The sole proprietor has unlimited liability; his or her total investment in the business, but
not his/her personal assets, can be taken to satisfy creditors. - ANS-False
What percentage of business receipts are accounted for by corporations? - ANS-90%
What form of business organization is considered dominant? - ANS-corporations
Who are the owners of a corporation? Is ownership readily transferable? - ANS-
Stockholders; yes (sell shares)
Corporations are not taxed under the individual tax rate. - ANS-True
What are two ways in which the owners of a corporation realize a return? - ANS-
Dividends; stock prices going up
One of the strengths of the corporation is its low organization costs. - ANS-False
The capital expenditures manager is responsible for - ANS-asset investments
Who elects the board of directors? - ANS-stockholders
Who is in charge of running the firm on a day-to-day basis? - ANS-CEO
Who has the ultimate responsibility for carrying out policies? - ANS-Board of directors
Limited liability means - ANS-not liable for malpractice of other owners
With a limited liability corporation, the owners are not liable for malpractice? - ANS-True
Who is in charge of overseeing capital expenditure decisions, the treasurer or
controller? - ANS-treasurer
Who is in charge of overseeing cash management? - ANS-treasurer
Who is in charge of overseeing accounting activities including the preparation of the
financial statements and also deals with tax management - ANS-controller
The corporate controller is the officer responsible for the firm's financial activities such
as financial planning and fundraising - ANS-False
The financial manager is concerned with cash coming in and cash going out of the
corporation. This is so the firm doesn't become.... - ANS-insolvent
What is the primary economic principle used in finance? - ANS-marginal benefit >
marginal cost
QUESTIONS AND CORRECT VERIFIED
ASWERS ALREADY GRADED A+
(BRAND NEW VISION)
Financial services - ANS-is the area of finance concerned with the design and
delivery of advice and financial products to individuals, businesses, and
governments.
Managerial finance - ANS-is concerned with the duties of the financial manager
working in a business. Involves tasks such as budgeting, financial forecasting,
cash management, and funds procurement.
Finance is described as... - ANS-the art and science of managing money
Managerial finance is concerned with the delivery of advice for financial products such
as mutual funds - ANS-False
The financial analyst is in charge of controlling the firm's daily cash balance - ANS-
False... cash manager
The treasurer - ANS-is commonly responsible for handling financial activities,
such as financial planning and fund raising, making capital expenditure
decisions, managing cash, managing credit activities, managing the pension
fund, and managing foreign exchange.
The controller - ANS-typically handles the accounting activities, such as corporate
accounting, tax management, financial accounting, and cost accounting.
What percentage of businesses are sole proprietorships? - ANS-75%
It is difficult to transfer ownership in a partnership, but it is easy if the business is
organized as a corporation. This is a weakness of the partnership, but a strength for the
corporation. - ANS-True
In partnerships, owners have unlimited liability and may have to cover debts of other
less financially sound partners. - ANS-True
, The sole proprietor has unlimited liability; his or her total investment in the business, but
not his/her personal assets, can be taken to satisfy creditors. - ANS-False
What percentage of business receipts are accounted for by corporations? - ANS-90%
What form of business organization is considered dominant? - ANS-corporations
Who are the owners of a corporation? Is ownership readily transferable? - ANS-
Stockholders; yes (sell shares)
Corporations are not taxed under the individual tax rate. - ANS-True
What are two ways in which the owners of a corporation realize a return? - ANS-
Dividends; stock prices going up
One of the strengths of the corporation is its low organization costs. - ANS-False
The capital expenditures manager is responsible for - ANS-asset investments
Who elects the board of directors? - ANS-stockholders
Who is in charge of running the firm on a day-to-day basis? - ANS-CEO
Who has the ultimate responsibility for carrying out policies? - ANS-Board of directors
Limited liability means - ANS-not liable for malpractice of other owners
With a limited liability corporation, the owners are not liable for malpractice? - ANS-True
Who is in charge of overseeing capital expenditure decisions, the treasurer or
controller? - ANS-treasurer
Who is in charge of overseeing cash management? - ANS-treasurer
Who is in charge of overseeing accounting activities including the preparation of the
financial statements and also deals with tax management - ANS-controller
The corporate controller is the officer responsible for the firm's financial activities such
as financial planning and fundraising - ANS-False
The financial manager is concerned with cash coming in and cash going out of the
corporation. This is so the firm doesn't become.... - ANS-insolvent
What is the primary economic principle used in finance? - ANS-marginal benefit >
marginal cost
