(there are 5 questions)

question 1: when determining your business’s initial cash needs, you should determine how much money you’ll need to live on for the first your business’s operations?

a): 1 to 3 months

b): 1 to 6 months

c): 6 to 12 months

question 2: one of the biggest dangers of borrowing from people you know is their potential

a): flexibility

b): reneging on the money

c): ulterior motives

question 3: what type of loan uses real estate for security?

a): a point sale

b): a line of credit

c): a second mortgage

question 4: which of the following documents will a bank issue in order to secure a loan with your personal assets?

a): guarantee and safety agreement

b): promissory note

c): 1099 form

question 5: adriana has borrowed $30,000 from her ira in order to fund her startup cost. how long does she have to replace the money without incurring a 10% premature withdrawal fee?

a): 60 days

b): 90 days

c): 120 days

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

Your uncle is considering investing in a new company that will produce high quality stereo speakers. the sales price would be set at 1.5 times the variable cost per unit; the variable cost per unit is estimated to be $75.00; and fixed costs are estimated at $1,200,000. what sales volume would be required to break even, i.e., to have ebit = zero?

You decided to charge $100 for your new computer game, but people are not buying it. what could you do to encourage people to buy your game?