Social Security benefits for the custodial spouse are phased out if he or she has substantial market earnings. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
Because book value entries are historical rather than forward-looking, the market value version of a firm’s balance sheet must be greater than the book value version. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
If you are sued for monetary losses resulting from bodily injury incurred in an auto accident you are protected under the A) liability section of your auto policy. B) medical payments section of your auto policy. C) collision coverage of your auto policy. D) other-than-collision coverage of your auto policy. ANSWER A
Date: September 19th, 2020
Walmart’s operating strategy is to be the lowest-cost, lowest-priced competitor in the industry. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
If a firm is projected to increases revenues by 10% AND net income by the same amount, which of the following must be TRUE? A) There can be no variable costs. B) There can be no fixed costs C) There can be no taxes. D) The change in expenses must be exactly equal to the […]
Date: September 19th, 2020
The preexisting conditions clause in a health insurance policy A) ensures that illness that occurred before coverage began will be covered by the policy. B) ensures that injures that occurred before coverage began will be covered by the policy. C) ensures that both illnesses and injuries that occurred before the coverage began will be covered […]
Date: September 19th, 2020
You have hired a financial consultant to help you develop pro forma financial statements. She projects accounts receivable as “7 days of net sales”. The projected information belongs on the ________ and you need information from the ________ to estimate the dollar value. A) balance sheet; income statement B) balance sheet; balance sheet C) income […]
Date: September 19th, 2020
Which of the following trusts would most likely not be subject to an estate tax, but might be subject to a gift tax? A) An irrevocable trust B) A revocable trust C) A living trust D) A testamentary trust ANSWER A
Date: September 19th, 2020
One perspective on risk asserts that the longer an investment is held, the A) less its risk because its periodic returns will be less variable. B) less its risk because its overall return will be higher. C) greater its risk because its overall return will be lower. D) greater its risk because its periodic returns […]
Date: September 19th, 2020
Defined benefit plans may be integrated with Social Security so as to provide a total guaranteed monthly benefit. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
