Short-Term Business Financing 31. Which of the following is NOT a characteristic

Question

Short-Term Business Financing

31. Which of the following is NOT a characteristic of a current asset?

a. cash

b. marketable securities

c. accounts payable

d. accounts receivable

32. The balanced approach is also referred to as the ___ ___ ___.

a. maturity matching approach

b. immature matching approach

c. permanent matching approach

d. primary matching approach

33. What is a line of credit?

a. a loan limit established by the consumer to payback a loan

b. a loan limit established by a bank for each business customer

c. a loan limit established by a bank for each student loan

d. a loan limit established by a bank for each consumer

34. Who established the Small Business Administration (SBA)?

a. the federal government

b. OSHA

c. it is a private owned entity

d. it is owned by a foreign firm

35. What is commercial paper?

a. a long-term promissory note

b. a short-term promissory note

c. a long-term secured loan

d. a short-term secured loan

Explanation / Answer

31. Accounts Payable is not a current asset.As we know that current assets are things a business own and likely to use them up or convert into cash within one business cycle.

32. a. maturity matching approach

32. b. a loan limit established by a bank for each business customer

34. a. the federal government

35. a short-term promissory note

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