Question 1

The corporate treasurer is the officer responsible for the firm's accounting activities, such as corporate accounting, tax management, financial accounting, and cost accounting.

Accepted Answer

The corporate treasurer is responsible for managing the company's financial activities, such as cash management, risk management, and investment decisions. The responsibilities mentioned in the statement belong more to the corporate controller or chief financial officer (CFO).

Question 2

Finance can be defined as

Accepted Answer

Finance is the art and science of managing money, including activities such as investing, borrowing, lending, budgeting, and forecasting. Choice A refers to accounting, while choice B refers to economics. Choice D is a definition of marketing.

Question 3

Which of the following is a career opportunity in managerial finance?

Accepted Answer

Capital expenditures management involves analyzing and managing the financial resources of a company to make decisions about investing in long-term assets such as property, plant, and equipment. This requires a strong understanding of finance principles and the ability to make strategic decisions that impact the company's growth and profitability.

Question 4

The corporate treasurer's focus tends to be more external, while the controller's focus is more internal.

Accepted Answer

The treasurer is typically responsible for managing the company's finances, investments and banking relationships, which are external functions. The controller, on the other hand, is responsible for managing the company's accounting and financial reporting systems, which are internal functions.

Question 5

In large companies, the project finance manager is responsible for coordinating the assets and liabilities of the employees' pension fund.

Accepted Answer

The project finance manager typically oversees the financial aspects of specific projects, such as analyzing costs and revenue, securing funding, and managing cash flow. The management of employees' pension funds is usually handled by a separate department or specialist in human resources or finance.

Question 6

Financial services are concerned with the duties of the financial manager.

Accepted Answer

The answer of Financial services are concerned with the duties...

Question 7

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

Accepted Answer

This is a correct definition of finance.

Question 8

The corporate treasurer typically handles the both cost accounting and financial accounting.

Accepted Answer

The corporate treasurer primarily handles financial accounting, while a cost accounting specialist or department usually handles cost accounting separately.

Question 9

The corporate controller is the officer responsible for the firm's financial activities such as financial planning and fund raising, making capital expenditure decisions, and managing cash, credit, the pension fund, and foreign exchange.

Accepted Answer

The answer of The corporate controller is the officer responsible...

Question 10

A financial analyst is responsible for maintaining and controlling the firm's daily cash balances. Frequently manages the firm's short-term investments and coordinates short-term borrowing and banking relationships.

Accepted Answer

The answer of A financial analyst is responsible for maintaining...

Question 11

Financial managers actively manage the financial affairs of many types of business-financial and non-financial, private and public, for-profit and not-for-profit.

Accepted Answer

Financial managers are responsible for managing the financial affairs of various types of businesses, including financial and non-financial, private and public, for-profit and not-for-profit. Their duties may include financial planning, investment management, cash flow management, risk management, and financial reporting.

Question 12

The corporate controller typically handles the accounting activities, such as tax management, data processing, and cost and financial accounting.

Accepted Answer

The corporate controller is responsible for managing the accounting activities of a company, including tax management, data processing, and cost and financial accounting.

Question 13

Managerial finance

Accepted Answer

Managerial finance involves tasks such as budgeting, financial forecasting, cash management, and funds procurement. It is concerned with managing the financial resources of an organization to achieve its goals and objectives. It also involves analyzing financial data to make informed decisions and allocate resources effectively. Therefore, option A is the correct choice. Options B, C, and D do not accurately describe managerial finance.

Question 14

The capital expenditures analyst/manager is responsible for the evaluation and recommendation of proposed asset investments and may be involved in the financial aspects of implementation of approved investments.

Accepted Answer

The capital expenditures analyst/manager is indeed responsible for evaluating and recommending proposed asset investments and may also be involved in the financial aspects of implementation.

Question 15

________ is concerned with the duties of the financial manager in the business firm.

Accepted Answer

Managerial finance is the branch of finance that deals with the managerial significance of finance techniques, methods, and analysis. It is concerned with the duties of the financial manager in the business firm, including financial analysis, planning and control, and capital budgeting. Financial services are a broader term that includes various financial activities provided by financial institutions, such as banking and insurance. Financial manager is a job position that involves managing an organization's financial resources. None of the above is not a suitable answer as it is not relevant to the question.

Question 16

Career opportunities in financial services include all of the following EXCEPT

Accepted Answer

All of the other choices, investments, real estate and insurance, and personal financial planning, are career opportunities within the financial services industry. Capital expenditures management is typically a function within a company's finance or accounting department and is not considered a distinct career path within financial services.

Question 17

The financial analyst administers the firm's credit policy by analyzing or managing the evaluation of credit applications, extending credit, and monitoring and collecting accounts receivable.

Accepted Answer

The answer of The financial analyst administers the firm's credit...

Question 18

Managerial finance is concerned with design and delivery of advice and financial products to individuals, business, and government.

Accepted Answer

The answer of Managerial finance is concerned with design and...

Question 19

Financial service

Accepted Answer

Financial service refers to the services related to the design and delivery of financial advice and products such as investment advice, insurance, planning, and tax services. It is not concerned with the duties of the financial manager (A), guidelines for the efficient operation of the business (C), or accounting activities related to data processing (D).

Question 20

The part of finance concerned with design and delivery of advice and financial products to individuals, business, and government is called

Accepted Answer

Financial Services is the branch of finance that deals with advising and providing financial products to individuals, businesses, and governments. Managerial Finance is focused on managing a company's finances, while Financial Manager is a job title for those who oversee the financial operations of an organization. Therefore, the best choice is C.

Quiz 1: The Role of Managerial Finance