Your personal balance sheet provides A) an estimate of your net worth at a point in time. B) an illustration of how your wealth has changed over time. C) a summary estimate of your expenses and income over the previous year. D) a pro forma budget for the coming year. ANSWER A
Date: September 19th, 2020
Its ability to raise capital by selling stock makes the corporation the best form of organization in terms of raising capital. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
When an investment banking firm “underwrites” an issue of securities, the firm is performing which of the following? A) offering to purchase the securities from the firm, thereby assuming the risk of resale to investors B) agreeing to provide insurance that the firm’s securities will sell for a price that is established by the firm […]
Date: September 19th, 2020
Based on the information in Table 4-1, the current ratio is A) 1.98. B) 2.86. C) 1.92. D) 2.88. ANSWER A
Date: September 19th, 2020
A compound annuity involves depositing or investing a single sum of money and allowing it to compound for a certain number of years. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
Which of the following statements about types of property covered under the Personal Articles Floater is true? A) Golfer’s equipment is covered only in the United States. B) Furs are covered on a blanket basis without the necessity to schedule individual items. C) A higher premium must be paid to insure musical instruments if they […]
Date: September 19th, 2020
All of the following are considered floods under the federal flood insurance program EXCEPT A) the overflow of tidal waters. B) the accumulation of surface water after a heavy rain. C) a mudslide caused by an accumulation of water after a heavy rain. D) the discharge of water from a home appliance, such as a […]
Date: September 19th, 2020
Which of the following statements about various coverages under a Personal Articles Floater is (are) true? I. Each item of jewelry is described and is insured for a specified amount. II. Stamp and coin collections can be insured on a blanket basis. A) I only B) II only C) both I and II D) neither […]
Date: September 19th, 2020
Which of the following is an example of an inflexible expense? A) Mortgage payments B) Entertainment C) Home maintenance D) Newspapers and magazines ANSWER A
Date: September 19th, 2020
Jan showed the following financial items at the ends of 2007 and 2085: 2007 2008 Checking account balance 1,300 1,200 Credit card balances due 700 500 Auto loan ($900 due within one year) 2,700 3,600 Automobile 7,000 8,000 Jewelry 400 300 Stamp collection 1,200 1,000 Jan’s net worth changed in 2008 by A) + $100. […]
Date: September 19th, 2020
