Credit Guru's Credit Quiz

1. In the U.S what does UCC stand for?
Unconfirmed Credit Contract Unidentified Customs Credit Uniform Commercial Code Unified Code of Conduct

2. What is Current Assets minus Current Liabilities?
Cash Flow Net Working Capital Net Worth Cash Turnover

3. What does the credit term PROXIMO mean?
Next Month Approximate Proxy Prorata

4. Fill in the blank: Character, ___________, Capital and Condition are the traditional 4 Cs of Credit


5. The Annual Sales of a company reflected on its Income Statement is $7,200,000 and its Accounts Receivable reflected on its Balance Sheet is $940,000. What is the company's D.S.O? [Assume that there are 360 days in a year]
42 days 47 days 48 days 55 days

6. A company in the U.S is in Bankruptcy when it files for Chapter
Seven Eleven Thirteen Five

7. Under which chapter is 'Reoganization' of a US company under the Bankruptcy umbrella   dealt?
(type in words, example: thirty ...and not 30)

8. Security in some Canadian provinces is governed by PPSA. PPSA stands for 
Perfect Property Solitary Act Promissory Province Solicitor Act Perfected Properly Security Act   Personal Property Security Act

9. The difference between Total Assets of a firm and its Total Liabilities is called..
Insolvency Current Ratio Net Worth Uniform

10. Canada experienced its highest number of Bankruptcies in the year
1942 1997 1996 1998