Private mortgage insurance will cover your monthly mortgage payments if your employment is terminated because of ill health. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
Ulrich is in a 28% tax bracket and has a credit of $100. Ulrich will save $100 in taxes because of the credit. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
Dakota Layne is opening up “Layne’s Women’s Fashions” on April 1. Dakota’s sales forecast for the Spring/Summer of Year 1 is shown in the top row of the table. She is going to purchase her merchandise 2 months in advance and her cost of goods sold is 70% of sales. Assume that Dakota has a […]
Date: September 19th, 2020
An outlay for installation costs is not considered part of the depreciable basis of the asset to be purchased. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
A simple interest calculation assumes you reinvest all interest earned in the investment. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
FHA insurance is paid for with an additional interest charge on the mortgage balance. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
The Auto Group has 1,200 bonds outstanding that are selling for $980 each. The company also has 7,500 shares of preferred stock at a market price of $40 each. The common stock is priced at $32 a share and there are 32,000 shares outstanding. What is the weight of the preferred stock as it relates […]
Date: September 19th, 2020
The book value of an asset is equal to the asset’s after-tax proceeds, provided after the asset has been sold. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
Looking at a future value of $1 table, you find the number 4.661 for 20 years and 8%. This means that a dollar invested today will grow to $4.661 at the end of 20 years. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
Giant Koala Stores Inc has forecasted sales for July through October in the top row of the table. Forecasted collections from cash and credit sales as well as forecasted payments to suppliers are also shown in the table. Wages, general & administrative expenses are 28% of the current month’s sales. Giant Koala starts August with […]
Date: September 19th, 2020
