MSMEs Capacity Building Training

What is a financial Institution?

 The following are Types of Financial Institutions except:

Importance of Budgeting

How do you create a budget?

What is a Budget?

Interest Rate is defined as the percentage charged on the total amount you borrow or save.

Cost incurred in the purchase of an item is recorded as an expense.

Any resource owned or controlled by a business or economic entity that can be utilized to produce value is known as ………………… 

A Loan is when you receive money from a friend, bank or financial institution in exchange for future repayment of the Principal, plus interest.

Interest is the amount charged for receiving a Loan.

The Following are factors to consider before acquiring a loan, except:

The following are ways to raise money except:

One of the following is not a way to raise capital for a business.

A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

An Insurance is an arrangement by which a company or state undertakes to provide a guarantee of compensation for specific loss, damage, illness, or death in return for payment of a specified premium.

Which of these is not a type of insurance?

The following are factors considered before making investment except:

What is a statement of financial position?

Type of Accounts?

To invest is to allocate money in the expectation of some benefit/return in the future.

Shares and Property Investments are types of Investments.

The following are types of businesses except

What is Value Proposition?

SWOT represents Strengths, Weaknesses, Opportunities & Threats.

Learning from past failure is a right attitude towards successful business formation.

Which of the following is not a right attitude in business formation:

The Following are ways to promote your brand except:

Ideation is the creative process of generating, developing and communicating new ideas.

Ideas can be which of the following:

Ideation comprises of —————-, ————&——— stages of a thought cycle.

A Branding Strategy is crucial for MSMEs to distinguish themselves from competitors.

What is Ideation?

The following are types of businesses except:

A business that has been granted tax-exempt status by the Internal Revenue Service (IRS) because it furthers a cause and provides a public benefit is called:

A sole proprietorship can also be referred to as sole trader.

A type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity is known as………

A business in which an established business owner sells the rights to use their company name, trademarks and business model to independent operators is known as……..

It is not important to perform company registration procedures in business formation.

Legal compliance is an important criteria in business formation.

In Nigeria, the body responsible for the registration of companies is the Corporate Affairs Commission.

CAMA means Companies and Allied Matters Act.

Compliance can be referred to as conforming to a rule , such as a specification, policy or standard.

Personas do not encourage critical thinking and prevent assumptions.

The hiring process of a business should not be tailored to the business needs.

Teamwork is an important skill to look out for when hiring new employees

Teamwork comprises of all of the following except:

The employees of a business make up an integral part of that business.

What are the basic social media tools?

The following are ways to find and keep your audience except:

The following are characteristics of a target audience except:

It is important to channel conversations with potential clients to what they really care about.

The following are ways to find and keep your audience except:

What is Bookkeeping?

 What is referred to as the recording of transactions on an accrual basis?

The following are documents for accounting records except:

The principle that entails that each transaction has dual effects on a business is called:

All receipts in the cash book are debit transactions while all disbursements are credit transactions.

What is referred to as the recording of transactions on an accrual basis?

A balance sheet is a financial statement that reports a company’s assets, liabilities and shareholders’ equity at a specific point in time, and provides a basis for computing rates of return and evaluating its capital structure.

Financial ratio Categories are? Choose two Options:

What is a statement of financial position?

The following are benefits of cash flow statements except:

It is good to have a separate account for your business.

The following are benefits of cash flow statements except: