CUNY Brooklyn College Finance and Accounting for Business Questions

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Business Finance
FINA 202
Workshop 1
1. Please develop the vocabulary presented herein. When I said develop, please explain
and illustrate each of the concepts. These are as follows:
a. Finance
b. Accounting
c. Economics
d. Profit
e. Organizational goals and objectives
f. Balance sheet
g. Income statement
h. Statement of cash flows
i.
Statement of returned earnings
2. Please define the different legal structure alternatives we have in Florida to
incorporate a business. Explain the characteristics for each one.
3. Problem:
If you purchase a fine purse from Louis Vuitton and your credit card total amount
charged was $2,006.25.
How much was the original price (before discount) if the purse had a 25% discount
and the Sale Tax in that area was 7%.
PLEASE READ VERY CAREFULLY!
Pedro E. Núñez

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