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Unit 3 check

Unit 3 check: Personal Saving and Borrowing / Business Finance and Accounting

10 questions from 9 lessons in Unit 3. Answer each one, and if you miss, follow the link back to where it is taught, then try again. Your score counts first tries.

Question 1 · from 3.1 · Calculate

Grace wants $3,000 for a used car in 15 months, and she already has $600 saved. How much must she save each month to reach her goal on time? Ignore interest, and give your answer in dollars.

Question 2 · from 3.2 · Multiple choice

For the same borrower and the same amount, why does a car loan typically carry a lower interest rate than a general consumer loan?

Question 3 · from 3.3 · Multiple choice

Ridgeline Outdoor Gear sells shares to the public. After a quarter of falling sales, its CEO suggests waiting until results improve before releasing more financial information. What do generally accepted accounting principles (GAAP) require?

Question 4 · from 3.4 · Multiple choice

Which statement about operating expenses is accurate?

Question 5 · from 3.5 · Multiple choice

Two founders are pitching their phone-case company to investors. Which detail would do the most to make their funding request convincing?

Question 6 · from 3.6 · Fill the statement

Tap a blank, then a phrase.

Maya's offer letter says $3,000 a month, but the amount that reaches her bank account is $2,340. A consumer budget starts from expected , and it plans every use of that money, including and debt payments.

Question 7 · from 3.7 · Multiple choice

Last year a bakery took out a 10-year loan to buy a new oven, and it repays the loan in monthly payments. How is that loan shown on its balance sheet today?

Question 8 · from 3.8 · Multiple choice

A furniture maker's income statement shows a net profit of $60,000 for the year. Yet its cash flow for the year was negative, and it is struggling to pay its suppliers. Which explanation fits best?

Question 9 · from 3.9 · Multiple choice

Which of these is an internal mechanism that a business creates to prevent unethical behavior?

Question 10 · from 3.1 · Multiple choice

Jae got a raise worth $400 a month. Six months later he saves no more than before, because a newer car payment and a pricier apartment used up the raise. Which barrier to saving does this describe?

0 of 10 answered.