.       Finance is concerned with the process institutions, markets, and instruments involved in the transfer of money among and between individuals, businesses and government.

True ________                        False ________

2.      The president or chief executive officer is elected by the firm’s stockholders and has ultimate authority to guide corporate affairs and make general policy.

True ________                        False ________


3.   Finance can be defined as

(a)  the system of debits and credits.

(b)  the science of the production, distribution, and consumption of wealth.

(c)  the art and science of managing money.

(d)  the art of merchandising products and services.

4.  Under which of the following legal forms of organization, is ownership readily transferable?

(a)  Sole proprietorships.

(b)  Partnerships.

(c)  Limited partnership.

(d)  Corporation
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