15 câu trắc nghiệm và đáp án ôn thi Moody Vietcombank – Level 1hoangphuoc
TÀI LIỆU ÔN THI MOODY – LEVEL 1
Shareholders in the company (corporation) form of business are personally responsible for
none of the liabilities of the company (corporation) unless they have provided a personal
A. F alse
2. The financial accounts of a service business usually do NOT include which of the following
A. Fixed assets
B. Prepaid expenses
C. Accounts payable (trade creditors)
D. Cost of goods sold
E. Notes payable
3. A major difference between the company (corporation) and partnership forms of business
organisation is that none of the shareholders in a company (corporation) are personally
responsible for business liabilities, as general partners are in a partnership.
4. Credit enhancements (security, guarantees, etc.) normally do not vary based on a
borrower’s legal structure.
5. In a period of declining sales, profits, and cash flow, a service provider, such as a software
developer, would likely have the greatest borrowing need to finance which of the following?
B. New fixed assets until they are used up in producing products
C. Inventory (stock) until it is converted to sales and cash
D. General operations until the business returns to a more positive financial position
E. A change in company ownership
6. The financial accounts of a sole trader present withdrawals taken during the year in the
operating expenses of the business.
7. lf assets are defined as everything that supports the production process or results from it,
then the shorter the asset conversion cycle, the greater the level of financing a business