1. Is divisibility a characteristic of money? What does it mean?
2. What do the assets and liabilities on a balance sheet mean and how are they related to evaluating the financial health of a business?
3. What makes cash only accounting different from other accounting methods, and what are its benefits?
4. Is store of wealth a function of money? What does it mean?
5. As an experienced entrepreneur, you are asked by a colleague to help him identify the start-up costs he needs to consider when opening a music store. Describe what start-up costs are and give at least three examples.
6. What are credit unions and what is their purpose? What are the other financing institutions of the US financial system?
7. What does the balance sheet statement report and what does the assets list in it mean? What are the other financial statements and what do they show?
8. Is trade credit a short-term or a long-term financing option? How does it work?