Business finance 1

Question 1

Money is derived from the word _______ surname of

Answer 1

Moneta, Juno

Question 2

Juno the Guardian of the

Answer 2

Finances of the Roman Empire

Question 3

a mint or a place for coining money.

Answer 3

Moneta

Question 4

is generally accepted as the
medium of exchange, a measure of
value or means of payments.

Answer 4

Money

Question 5

• consist of denomination of a
  country’s currency that, by law, must be
  accepted as a medium for commercial
  exchange and payment for money debt.

Answer 5

Legal tenders

Question 6

• not legal tenders and are accepted only at the option of the creditor, lender, or seller, also called

Answer 6

Checks and Postal orders

Question 7

Lawful Money

Answer 7

Checks and postal orders

Question 8

-conversion of metals into coins.

Answer 8

Coinage

Question 9

where metals are made into coins.

Answer 9

Mint

Question 10

Lighter than coins making it
portable.

Answer 10

Paper Money

Question 11

Representative money was late replaced by what is
termed

Answer 11

Fiat money

Question 12

the hard plastic card used in
everyday transactions in place of actual bank
notes.

Answer 12

Plastic money

Question 13

Types of Plastic Money

Answer 13

Credit Card
Debit Card
Cash Card
Prepaid Cash card

Question 14

allows owners to buy
products on credit, it has a credit limit.

Answer 14

Credit Card

Question 15

• immediately charged to the
  cardholder’s bank account.

Answer 15

Debit Card

Question 16

• only allows withdrawal of
  money through an Authorized Teller
  Machine (ATM).

Answer 16

Cash Card

Question 17

paid by the buyers upon purchase.

Answer 17

Prepaid Cash Card

Question 18

Types of Prepaid Cash Card

Answer 18

Gift Card/Certificates
Store Card
Multi-currency prepaid Card

Question 19

can be given as
gifts so that the recipients can choose
what they want as a gift.

Answer 19

Gift Card

Question 20

generally issued by a
particular store.

Answer 20

store Card

Question 21

• can load up to six different currencies.

Answer 21

Multi currency prepaid card

Question 22

FORMS OF MONEY

Answer 22

Commodity Money
Currency (bills and coins)
Check
Bank draft
Money Order
warehouse receipt

Question 23

used to get what we
want, the things we used to pay for such
maybe term commodity money.

Answer 23

Commodity money

Question 24

government of
any country issues currency that is legal tender
in the country.

Answer 24

Currency

Question 25

generally used by business and person in conducting businesses, and personal transactions. It is a written order to a bank.

Answer 25

Check

Question 26

DRAWEE -

Answer 26

bank

Question 27

Payee

Answer 27

name written on the face o the check

Question 28

MAker or Drawer

Answer 28

who issues the cheque

Question 29

Different Types of Checks

Answer 29

1. Personal check 2. Business check 3. Cashier's check/Manager''s check 4. Certified Check 5. Traveler's Cheque

Question 30

issued by a person to be drawn against their own current/ checking account in a bank.

Answer 30

Personal check

Question 31

- a check issued by companies/business used for business transactions.

Answer 31

Business check

Question 32

treated as a bank draft, ______ is issued by the bank against its own account, ensuring availability of funds to be purchased with a fee from a bank that issues the check

Answer 32

Cashier's check/Manager's check

Question 33

like a cashier's check issued by the bank certifying that the account of a person issuing that it has available funds (just like any ordinary personal check).

Answer 33

Certified Check

Question 34

- people who travel and who do not want to go into the hassle of exchanging their currency with the currency of the country they are visiting bring them what is known as traveler's check

Answer 34

Traveler's Check

Question 35

expiration range of a check

Answer 35

180 days

Question 36

Checks dated in the future

Answer 36

Post dated Check

Question 37

Checks that are 180 days old

Answer 37

Stale checks

Question 38

– if Nawala ang check need ng SPO but with charge (250 php + 2,200 charge)

Answer 38

SPO - Stop Payment order

Question 39

1 check booklet =

Answer 39

50 pcs

Question 40

you should by banks against their own account - sometimes called cashier's check or managers check - to get a bank draft, a customer goes to the bank to request it. - the bank will ensure that the customer has enough money in the bank or presents enough cash

Answer 40

Bank draft

Question 41

TYPES OF BANK DRAFT

Answer 41

1. Demand Draft 2. Time Draft 3. Local draft 4. International draft 5. automatic bank drank

Question 42

- refers to the instrument issued generally by the post office of a country ordering a sum of money to be paid to the payee indicated on the instrument itself.

Answer 42

Money order

Question 43

an act creating the Philippine Postal Corporation under Art. II, Sec. 6

Answer 43

R.A. 7354

Question 44

a document of title to goods used as proof of profession or control of the goods covered by the receipt.

Answer 44

Warehouse receipts

Question 45

BASIC SECURITY FEATURES OF THE NEW GENERATION CURRENCY

Answer 45

EMBOSSED PRINTS - Republika ng Pilipinas, Signatures, hero face, etc. SERIAL NUMBER - Upper right and lower left numbers on note SECURITY FIBERS - Visible fibers embedded and scattered randomly in paper. WATERMARK - Replica of the face on the bill, amount or number SEE-THROUGH MARK - Baybayin (means "Pilipino") seen on paper. CONCEALED VALUE - smaller version of the money's value SECURITY THREAD - 2mm wide security thread for 20, 50; 4mm wide for 100, 200, 500, 1000 OPTICALLY VARIABLE DEVICE (OVD) PATCH - Reflective foil (circle) besides the money's faces. OPTICALLY VARIABLE INK (OVI) - Color-shifting that only 1000-peso bills have this.

Question 46

4MS

Answer 46

Matibay Makulay Maganda Malinis

Question 47

Composition of paper money

Answer 47

● 80 % - cotton ● 20 % - abaca

Question 48

- gives money embossed prints

Answer 48

Intaglio printing process