Welcome to Quiz 3!
Understand Our Funding Mechanism Quiz
Welcome to the Understand Our Funding Mechanism Quiz! This quiz will test your knowledge of how business owners can effectively utilize funds within our setup. Get ready to dive deep into financial strategies!
Key topics covered include:
- Spending options for funds
- Using the marketing card and invoice pay feature
- Fees associated with different funding uses
Hooray, you're halfway done!
I hate to tell you this... But that was the easy part.
So far, we've covered who we are as a company and what we sell.
Now, let's dive into how our funding works.
These next two quizzes are the most important,
so buckle up and enjoy the ride! 🤓
Hooray, you're halfway done!
I hate to tell you this... But that was the easy part.
So far, we've covered who we are as a company and what we sell.
Now, let's dive into how our funding works.
These next two quizzes are the most important,
so buckle up and enjoy the ride! 🤓
What are the two ways that business owners can spend the funds?
The marketing card and invoices
The marketing card and salaries
The marketing card and opening a new shop
Invoices from agencies and suppliers
True or False: You can use the marketing card to pay for invoices
True
False
True or False: You can use the funds to pay a marketing agency with the invoice pay feature
True
False
What sort of business expenses can business owners spend our funds on? Select all that apply.
Digital marketing
Shipping and freight
Insurance
Salaries
Website development
Manufacturing
Stock and inventory
Advertising agencies
How do business owners access their funds?
By logging into their platform
They are mailed a marketing card
They get the money deposited into their bank account
Magic ✨
If a business only wants to use the funds for digital marketing (no invoices), what will their fee (cost of capital) be?
6%
4%
5%
Depends
If a business only wants to use the funds for invoices (no marketing), what will their fee (cost of capital) be?
1%
6% (5% + 1%)
5%
4%
Can business owners use our funds to pay international suppliers?
Yes, we pay all suppliers directly through a foreign exchange account
Yes, but we pay our client in AUD and then they pay their supplier
No, we don't do any foreign exchange payments
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