Which of the following is not a true statement about mutual funds? In budgeting, it is useful to compare ________ with the budgeted amounts to determine the accuracy or error of the budget and adjust it as necessary. Which item on his. The increased mortgage payment was in effect the remainder of the year. The cash in your wallet, your checking account balance, and your savings account comprise your ________ assets. D) value of investments. To qualify for "head of household" you must, If you are a surviving spouse, you may continue to use the married filing jointly tax rates unless. The course begins at 5 p.m. and goes until 9 p.m. on Monday nights. Describe how costs flow from inventory to cost of goods sold for the following methods: (*a*) FIFO. a person's inability to pay his or her debt. Therefore, he has ________. Witter House is a calendar-year firm with 300 million common shares outstanding throughout 2016 and 2017. Debts that are to be paid off within a year are called, Long term liabilities include all of the following except. $$. Which of the following is an example of an opportunity cost? If you prepare a document that shows your cash inflows and cash outflows it is called a(n) ________. C) cash inflows and outflows. wrote. Liang Company began operations on January 1, 2016. Which of the following is not an asset you might find on a personal balance sheet? B) current income and payments. A cash flow statement reports a person's or a family's. Question and answer. **b. 1. Jake invested $800 in an IRA. This month, Jim has $1,000 of salary and $100 of dividend income this month. What is Allison's net cash flow for the current month? \hline \text { Shareholders made money } & 2 & 11 & 13 \\ A budget will not do which of the following? What was the net effect on Fritz's net worth of these transactions? These transactions are summarized as follows: Creating a . D) minimize financial risk., The personal cash flow statement measures A) the rate of cash flow. The income in your budget is not affected by. A cash flow statement reports a person's or a family's current income and payments. Interest income would come from earnings on, Income earned from the sale of an asset for more than you paid for it is classified as a(n), If you were to receive $100,000 from a corporation, the most tax-efficient way to receive it would be as. D. tradeoffs associated with financial decisions. 2.1 Personal Cash Flow Statement. U-Build It Warehouse issues a $45$-day note for $\$800,000$ to Thomson Home Furnishings Co. for merchandise inventory. What is Jane's gain or loss? **a. ***2017*** d. The car rolled down the hill because it was left in neutral. According to her filing status, a standard deduction of. C) plan for borrowing. For most people, the first step in finding where their money goes each month is to correctly, Your cash outflows are the same as your liabilities such as the amount you owe on your car or, ) The primary goal of financial planning is to, The personal cash flow statement measures, The cash flow statement reports a person's or family's, Creating a cash flow statement requires that you determine, Jim has $1,000 income from his job and $200 stock dividend income this month. D) value of investments. Definitions C. Margaret's liquidity ratio is, Nancy has $40,000 of annual disposable income and saves $8,000 a year. c) current income and payments. What was the total impact on Jakob's cash flow for the year? Jakob received a $1,000 a year raise in January, sold stocks in March for $6,000 that were originally purchased for $4,000, and in July had a $100 monthly increase in mortgage payments on an adjustable rate mortgage. If a stock was purchased in January 2009 for $1,000 and sold in December 2010 for $3,000, a ________ of $2,000 results. During 2012, she did not remarry and continued to maintain her home in which her three dependent children lived. A. subtracting total liabilities from total assets. $\hspace{15pt}1$. Josh normally works until 5 p.m. each day, but because of the drive time to the community college, he will need to leave work at 3 p.m. on class days. Aaron wants to put $200 per month into an IRA account at 15% for four years. Study with Quizlet and memorize flashcards containing terms like 1. The personal cash flow statement measures. Creating a cash flow statement requires that you determine A) Assets B) Liabilities C) Cash used for expenses D. tradeoffs associated with financial decisions. Which of the following is not a step in developing a financial plan? What action should Allison take? In 2012, she sells the stock for $35,000. If your monthly disposable income equals $1,500 and you currently save $500/month, your savings rate is ________. Q. \text { Than } \mathbf{\$ 1} \text { MIlllon } **g.** Received$1,204,600 cash in payment of accounts receivable. Bill's annual savings rate is 9%. \end{array} & \text { Total } \\ B current income and payments. Most investments are subject to ________, which is the uncertainty surrounding their potential return. Creating a cash flow statement requires that you determine. Your decision about one component of your financial plan can affect all other components. C) cash used for expenses. The state lottery has just informed you that you have won $1 million to be paid out in the amount of $50,000 per year for the next 20 years. Finance questions and answers. Which statement is true? All of the following are types of nontaxable income except. \text { CEO Pald Less } \\ ***2016*** ). Opportunity costs are only associated with money management decisions involving longterm, A cash flow statement is a record of how a person or family has earned and spent their money, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Financial Management, Concise Edition, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. Get access to all 7 pages and additional benefits: A company's earnings are $3.00 per share, its dividend is $2.00 per share, and its stock price is $30.00 per share. The highest tax rate a taxpayer is charged on his or her federal tax return is called the ________ rate. Which of the following usually affects cash inflows the most? An individual retirement account is an example of a(n) ____________ asset. In the balance sheet, a(n) ________ in assets ________ net worth. User: A cash flow statement reports a person's or a family's: (Points : 2) net worth.current income and payments. Which of the following would not be considered a very good investment? B) maximize cash inflows. During the last month, Mary Jane had expenses of $5,000 and an increase in net worth of $700. Josh currently earns $18.50 per hour. Its income tax rate is 40%. The payment items that should be budgeted first are. Which of the following is not correct? \text { Shareholders lost money } & 4 & 3 & 7\\ Which of the following is not a liquid asset? Jerry wants to know how much he needs to save every year to accumulate $15,000 in five years at a 10% interest rate. Study with Quizlet and memorize flashcards containing terms like The primary goal of financial planning is to A) increasing earnings. The dining area should be painted in a neutral color. During the past year, Fritz spent $3,000 to take a cruise, bought stock costing $5,000 that by year-end had increased to $6,000, and paid off a credit card of $3,500. B) Current income and payments. Which of the following is not an example of a future value? Which of the following usually affects cash inflows the most? Finance. c. The counselor has remained neutral throughout the dispute. (b) Sensitivity analysis The kingdom described in "The Lady, or the Tiger " is 17. Which of the following is not a decision that you would probably encounter in managing your budget? **f.** Wrote off $27,800 of uncollectible accounts receivable. Most income tax documents and records should be kept in a safety deposit box. A budget will not do which of the following? Michael's brother, Thomas, lives with Michael in his own home. 2. To compute how much you would need to save each year for the next 25 years to allow you to withdraw $20,000 for the following 30 years, you would need to use the, To determine how much you would need to save each year to reach a specific goal, you would use. C) cash inflows and outflows. If you have current assets of $20,000 and current liabilities of $10,000, then you. The time value of money can be applied to all of the following except. Which of the following statements about stocks is not true? What is his cash inflow this month? A. Current liabilities are amounts that must be paid within a short period of time, usually less than a year. During his ________ your Uncle Harvey decides to cut you out of his will. $$, Match the terms in the first column with an appropriate definition from the second column. How many exemptions should George claim on his tax return? The restricted stock does not. In 2012, self-employed individuals pay FICA taxes at a rate of. ) f(x)=x^3-3 x^2+2 The fair value of the options was estimated on the grant date to be$3 per option. The difference between an ordinary annuity and an annuity due is with an annuity due the payments occur at the ________ of each period. If Jo Ann had $4,000 in liquid assets and $1,000 in current liabilities, she would have a liquidity ratio of. (1) Determining how the worth of an investment changes with changes in one C. Find a place to live with a lower rent. A. current income and payments B. net worth C. plan for borrowing D. value of investments. Your net worth will not be increased by which of the following actions? How do we all benefit from the work of entrepreneurs? User: The setting is a gambling parlor in A cash flow statement reports a person's or a family's. View M2Assignment.pdf from FINC 2400 at Auburn University. Present, Hello there. \end{array} & \begin{array}{c} plan for spending. She could, The current financial position of an individual or family is best presented with the use of a, Your current liquidity ratio is 2.0. B) current income and payments. The process of obtaining ________ values is referred to as discounting. Potential investments include all of the following instruments except. Current income and payments. Which of the following could save a smaller proportion of their earnings to achieve the same level of wealth? WINDOWPANE is the live-streaming app for sharing your life as it happens, without filters, editing, or anything fake. Budgeting The cash flow statement reports a person's or family's A) net worth. A worker making $20 per hour decides to take unpaid leave from work to attend a graduation ceremony. C. Creating a cash flow statement requires that you determine A) assets. How many exemptions can he claim on his tax return? D) value of investments., 3. Course Hero is not sponsored or endorsed by any college or university. Money received today is worth more than the same amount of money received in the future. When you own a house as a primary residence. ________ management involves decisions regarding how much money to retain in a liquid form and how to allocate funds among short-term investment instruments. If you take money out of your savings account to pay off a, If you sell stock from your portfolio to pay off your car loan, your debt ratio of 0.5 will, Margaret has $5,000 in her checking account, a home with a market value of $175,000, and, Nancy has $40,000 of annual disposable income and saves $8,000 a year. answer choices. Which of the following gross income is not taxable income? If both a husband and wife are employed, their consumption will tend to. A personal statement of cashflow measures cash inflows as well as cash outflows. The accumulation of interest over time is called __________ . What is Sally's taxable income? Long-term liabilities are debts that will be paid at least three years into the future. His deductions for federal and provincial taxes, CPP, During the last month, Astrid had expenses of $6,000 and an increase in net worth of $100. The companys net income was$150 million and $160 million in 2016 and 2017, respectively. 2) Salary or wages are the only cash inflows for working people. Jeff has a $1,000 salary and a $100 dividend income this month. Question 12. The tax method that uses the principle of taxing those more who earn more is called ________ taxation. The financial crisis of 2008-09 affected the financial position of individuals in all of the following ways except which of these? This month Jim has rent and utilities of $300 and he spent $300 on groceries and $200 on clothing. Which of the following. Transcribed image text: The cash flow statement reports a person's or family's A net worth. Opportunity costs are not only associated with money management decisions involving longterm, Financial records that may need to be referred to on a regular basis should not be kept in a safety. If you have liquid assets of $20,000 and current liabilities of $10,000, then you, A family with $45,000 in assets and $22,000 in liabilities would have a net worth of, David's liquidity ratio is 3.0. Which of the following tables should he use? If you have a cash deficiency this month, which of the following is the least desirable source from which you may obtain the necessary funds. Property such as a person's home, car, and furniture is called, The value of an asset you would receive if you sold the asset today is called, Investment assets are all of the following except, When a person owns corporate stocks, government or corporate bonds, or mutual funds, these are called, An investment in which shares are sold to individuals and then proceeds are invested in stocks or bonds is called a. B) current income and payments. Budgeting The cash flow statement reports a person's or family's A) net worth. All of the following affect cash outflows except, If both a husband and wife are employed, their consumption will tend to, A personal cash flow statement is usually the starting point for an individual's or family's, The most common error people make is to underestimate cash inflows and overestimate cash, Forecasting for more than a month at a time is not helpful because you can't plan for, Getting financial help from family and friends is easy and should be your first option in case, A cash flow statement that is based on forecasted cash flows for a future time period is called. If Kim's current debt ratio is 45%, this means that ________ of Kim's assets are purchased on credit. The accumulation of interest over time is called. ________ are specific expenses instead of a standard amount that reduce adjusted gross income. The cash flow statement reports a person's or family's A net worth. Which of the following is not considered an asset for a family? The cash flow statement reports a person's or family's A) net worth. The act of determining how wealth will be distributed before or upon death is. User: What does Weegy: The kingdom described in "The Lady, or the Tiger " is mythical. Ed Bostrom wants to reduce his fixed expenses. Determining taxes requires you to address all of the following topics except. If your income exceeds the amount you spend, you should ________ your investments or ________ loans. Her savings rate is, If you save the same dollar amount from each paycheck during your career as your income increases, your savings rate will. Round amounts to the nearest dollar. Which of the following is an example of money management? What is the annual depreciation for each of the 6 years for an automobile costing $28,000? A cash flow statement reports a person's or a family's. A cash flow statement reports a person's or a family's current income and payments. Which of the following can be deducted from your taxes even if you do not itemize? User: Given the formula K = LMN, Weegy: President pro tempore conducts Senate meetings when the vice president is unavailable. C) plan for borrowing. A complete financial plan contains all of the following categories except. Jerry has assets of $200,000, a net worth of $150,000, and an annual income of $100,000. Her savings rate is, You save the same dollar amount from each paycheck during your career. If spending exceeds the amount of your income over a period of time, your best option is probably to. Mr. Berkey invests $10,000 in a money market account at his local bank. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. maximize wealth. ________ is the process of forecasting future expenses and savings. Which of the following decisions would involve the use of the present value of a $1 ordinary annuity table? If you have a salary of $30,000, an IRA deduction of $2,000, a standard deduction of $4,400, and a FICA rate of 7.65 percent, how much did you pay in FICA this year? As your income, Bill's annual savings rate is 9%. I hope you are doing well. D) value of investments. Prepare journal entries to record Liang's 2016 and 2017 summarized transactions and its year-end adjustments to record bad debts expense. B) liabilities. \hline & \begin{array}{c} D) market value of investments. Read the following sentence. In which sentence does neutral have the same meaning as it does in the sentence above? If he has a 15% marginal tax rate and the contribution is tax deductible, Jake will, For qualified individuals, a contribution to a traditional IRA (Individual Retirement Account) is a(n), Reductions of gross income for such items as individual retirement accounts (IRAs), moving expenses, and student loan interest payments will result in, The standard deduction (assuming you are not over 65 or blind) is largest for, The filing status that yields the largest standard deduction per taxpayer is. 9) Which of the following is not a cash inflow? $\hspace{15pt}2$. Total earnings of a person less deductions for taxes and other items is called, A common deduction from a person's paycheck is for, This year Taylor's gross income is $70,000. The average price of the common shares was$12 and $15 during 2016 and 2017, respectively. Which of the following Web sites should you question the accuracy of the information provided? The cash flow statement reports a person's or family's. current income and payments. If you do not budget for unexpected expenses in a given month, you will likely experience a(n). \end{array} ________ management involves decisions regarding how much credit you need to support spending and which sources of credit to use. Mark your answer on a separate sheet of paper. If your net cash inflows exceed your net cash outflows, you can increase your net worth by investing the difference in more ________. A) assets. Nancy is paid $2,000 biweekly (26 pays per year) in her job as a market researcher. B) current income and payments. Jerry has assets of $200,000, a net worth of $150,000, and an annual income of $100,000. C) plan for borrowing. Thomson Home Furnishings Co. discounts the note at $7\%$\ The interest rate she expects to earn on her investment is 9%. George is 65 years old. Cash flows are affected by financial planning decisions. (c) Risk analysis Everything else being equal, the ________ the interest rate, the ________ the final accumulation of money. Your net worth can change even if your net cash flows are zero. (2) Determining probabilistic statements about the worth of an investment based She also has the following, Allison anticipates an additional car expense two months from now of $400 for new tires that. Why is it important to monitor your debt level? the payment of the note at maturity. Have a. The primary goal of financial planning is to. This month Jim has rent and utilities of $300 and he spent $200 on groceries and $100 on clothing. A stream of equal payments either received or paid at equal time intervals is a(n) ________. **h.** In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable will be uncollectible. Jerry is divorced and has two children that live with him. C) cash used for expenses. Allison expects her monthly cash inflow after taxes to be $3,000. Using this find what is the standard deviation of the process time? What is he solving for? Margaret also has a credit card debt of $15,000. The concept of time value of money is important to financial decision making because. Question 4 of 20 5.0/ 5.0 Points The cash flow statement reports a person's or family's __________ . a. Which of the following conditions will not afford you a tax advantage? Yetzin and Golub are business partners and share net income in a ratio of 7 to 5, respectively. The personal cash flow statement measures. Definite financial obligations are referred to as variable expenses. 1) For most people, the first obstacle is to correctly assess their true net income. Log in for more information. ** Sold $1,345,434 of merchandise (that had cost$975,000) on credit, terms n/30. Nancy also has student loans on which she makes monthly payments of $200. Cash inflows tend to be the highest in which of the following? citizenship bylaws mission statements hierarchy, Which Invention radically changed textile manufacturing? Which of the following actions will not increase your net worth? Personal finance does not include the process of planning your, A personal financial plan specifies financial goals and describes. B) current income and payments. The solution that resulted from the experiment was neutral. Which of the following financial documents would most likely be stored in a safety deposit box? The primary goal of financial planning is to. Which of the following would not be a factor in evaluating your current financial position? Creating a cash flow statement requires that you determine. Which of the following presents a summary of income and outflows for a period of time? Which of the following tables should she use? Insolvency is the inability to pay debts by the due date, because liabilities exceed the value of, A person's net worth is the difference between the value of the items owned and the amounts, Furniture, jewelry, and an automobile are examples of liquid assets. Which cash inflow will probably be discontinued after retirement? This, The main purpose of a budget is to help you, Anne spends a total of $2,000 a month to cover all living expenses. C) maximize wealth. the ease of converting a financial resource into cash without a loss in value. Lucky Louie just inherited $50,000 from his great aunt, has $1,500 in his checking account. Which of the following is not an acceptable method of reducing your tax bill? She also has the following monthly expenses: Rent, $750; student loan payment, $200; utilities, $150; food, $300; recreation, $600; car expenses, $200; clothing, $150. ariesmom79|Points 75| As part of its executive compensation plan, at January 1, 2015, the company had issued 30 million executive stock options permitting executives to buy 30 million shares of stock for $10 within the next eight years, but not prior to January 1, 2018. Which of the following would be classified as a short-term goal? The concept that a dollar received today has more value than a dollar received in the future because of the interest it can earn is called the ________. Which of the following is the correct method for starting with gross income and computing taxable income? Bloomberg Businessweek recently published a survey that looked at CEO pay at big businesses and whether or not shareholders gained money. Bills that are to be paid off within a year are called, Liabilities include all of the following except, Student loans, car loans, and housing loans are good examples of, The difference between assets and liabilities is called, Another term for your wealth calculated by deducting money that you owe from the value of the things you own is. 3) Creating a cash flow statement requires that you determine. Which of the following is not a true statement about mutual funds? Present and future values concepts are applied to which of the following decisions except. the issuance of the note.\ Personal records current budget, cheque book(s) and bank statements. Which of the following statements is not true regarding education and financial position? D) value of investments. A budget is a record of how a person or family has spent their money. Required: 1. Gross income and adjusted gross income can be the same if you do not have any special adjustments. Determine basic and diluted earnings per share for Witter House in 2017. Insolvency is a result of having an unequal balance of tangible and intangible goods. Thomas has a full-time job and pays his brother for rent and utilities. Sally's adjusted gross income is $38,000.00. If you invest $12,000 today at an interest rate of 10%, how much will you have in 10 years? Which of the following is not one of these special adjustments? 7) The cash flow statement reports a person's or family's. A) net worth. Several retail stores issue their own credit cards. In order to take advantage of the time value of money you should do all of the following except. Which of the following it not an annuity? 100% (8 ratings) Solution: The cash flow statement reports a person's . D plan for borrowing. ________ allows access to funds to cover any short-term cash deficiencies. or more parameters His employer contributes 10% of Josh's gross earnings to a 401(k). B) plan for borrowing. C) maximize wealth. Place your order now for a similar assignment and have exceptional work written by one of our experts, guaranteeing you an A result. When one money management decision is selected, something else must be given up. This is true because. To calculate your net worth, you need to know your: The main purposes of personal financial statements are to: Which of the following financial documents would most likely be stored in a safety deposit, D. Birth, marriage and death certificates. Michael's filing status is, Stephanie, who was divorced in 2012, had filed a joint tax return with her husband in 2011. After your financial plan is developed it should be, The primary goal of financial planning is to, The personal cash flow statement measures, The cash flow statement reports a person's or family's, Creating a cash flow statement requires that you determine. She is allowed a standard deduction of $5,950.00 and one personal. Allison expects her monthly cash inflow after taxes to be $3000. What is he calculating using his financial calculator? She could, The current financial position of an individual or family is best presented with the use of a, Your current liquidity ratio is 2.0. C) plan for borrowing. $$ In 2016, Witter House began granting employees stock awards rather than stock options as part of its equity compensation plans and granted 15 million restricted common shares to senior executives at January 1, 2016. Nancy is considering the purchase of a new car, but also is very determined to save at least 50% of any budget surplus each month. The difference between the amount budgeted and the actual amount is called a, If a family planned to spend $370 for food during March but only spent $348, this difference, A budget deficit would result when a person's or family's. If budgeted spending is less than actual spending, this is referred to as a deficit. A cash flow statement that is based on forecasted cash flows for a future time period is called a(n). What is each part ner's share of a net income of $12,852? Medical expenses, clothing, and telephone are examples of fixed expenses. Sandy wants to know how much she needs to save today to have $5,000 in five years at a 7% interest rate. Which of the following decisions would involve the use of the present value of $1? View FINC 2403 M2 Assignment .docx.pdf from FINC 2400 at Auburn University. D. decreased value of personal possessions. 6) The personal cash flow statement measures. **d.** In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable will be uncollectible. Corporations issue stocks for all of the following reasons except. Corporations issue stocks for all of the following reasons except. It shows the difference between the . Josh has decided to take a course at the local community college that could help him get a promotion at work. A. different in various geographic areas. 120 seconds. D) The current balance of her home mortgage is $81,000, she has one credit card with a $3,000 balance, and a school loan with a balance of $6,000. Under a direct deposit system the bank will make an automatic debit from you bank account and, "Sharing the bills" is a budgeting strategy for twoincome households where each partner. ** Wrote off $18,300 of uncollectible accounts receivable. Which of the following is not a type of decision to manage your liquidity? I would need help in the creation of a chart for petty cash transactions listed below. Which of the following financial documents would most likely be stored in a home file? This month he also has. (a) Breakeven analysis Round to the nearest dollar. An expense that could be included in the itemized deductions of a taxpayer is. Which of the following would increase your liquid assets? B) expenses. How much interest will he earn on his investment during this time period? Its PE ratio is: 33 10 15 1.5. when a company calculates ______, the company looks at how much profit it expects to make from a particular customer, including each purchase he or she will make the company now and in the future. Susie wants to know how much she needs to save today to have $5,000 in five years. If you are a married taxpayer, you may use the ________ filing status. The personal cash flow statement measures A) cash inflows. Which of the following decisions would involve the use of the future value of $1? If you own stock that has increased in price, it would be best to sell it after you have owned it for at least. B) current income and payments. In an effort to actually see what, ____________ is the recommended budgeting strategy for dual income households where the, Jennifer, a recent Concordia graduate, is struggling to pay off her $15,000 student loan. The cash flow statement reports a person's or family's __________ . Your ability to access funds to cover any short-term cash deficiencies is your ________. **e.** Sold $1,525,634 of merchandise on credit (that had cost$1,250,000), terms n/30. C. storage facilities to make financial documents easily available. Taxpayers who are blind get the benefit of, When taxable income exceeds certain levels, the itemized deductions and exemptions, Legal methods of reducing your taxes include all of the following except. Which of the following taxes is only paid on the first $110,100 of your salary? He supports his father who is 90 years old, blind, and has no income. The cash flow statement reports a person's or family's A) net worth B) Current income and payments C) Plan for borrowing D) Value of investments. a. Which of the following is not taxable for income tax purposes? The stock options qualify for tax purposes as an incentive plan. Paying off a credit card with cash will have which of the following effects on net worth? Which of the following is not a tax credit mentioned in the chapter? To determine how long it would take an investment to double at 10 percent, you could scan down the 10% column until you reach a factor of approximately 2.0 on the ________ table. The higher the rate used in determining the future value of an annuity. C) plan for borrowing. During the past month, Jennifer Sinnet had income of $3,500 and a decrease in net worth of. What is Jessie's current net worth? \hline The cash flow statements for an individual show a person's income and expenses. If a stock was purchased for $5,000 in January 2010 and is sold in December 2010 for $3,000, a ________ of $2,000 results. E. avoiding the use of consumer credit., A home file should be used for: A. storing . What action would be appropriate? The difference in the outflows and inflows ,that is, the net flows of cash over a particular period is also measured by the personal statement of cashflows.Net cash flow on personal statement of flows of cash is related to the net worth on the personal statement of financial position. B) decrease. 2) The cash flow statement reports a person's or family's. A) net worth. He has $1,000 in current liabilities. A branch of the U.S. Treasury Department, called the ________, administers the federal tax system. the amount of insurance coverage a person has. What are Jerry's liabilities? cash used for expenses. Which item below cannot be taken as an itemized deduction? Determine intervals of increase and decrease and intervals of concavity for the given function. B) cash outflows. Current liabilities differ from longterm liabilities based on, Ben Chase needs to pay off some of his debts over the next few months. cash inflows and outflows. Which of the following is not an appropriate approach to solving the problem of an annual budget deficit? The concept of time value of money is based on. Liabilities are cash and items of value that can be easily converted to cash. A) assets. Then sketch the graph of the function. The cash flow statement reports a person's or family's A) net worth. Jennifer has assets of $100,000 and $10,000 of debt. A personal cash flow statement is usually the starting point for an individual's or family's. budget. [Solved] The cash flow statement reports a person's or family's A) net worth. \begin{array}{|lccr|} MACRS depreciates automobiles in 6 years according to six fixed percents: 20% the first year, 32% the second year, 19.2% the third year, 11.52% the fourth and fifth years, and 5.76% the sixth year. Which of the following statements about stocks is not true? In the balance sheet, a(n) ________ in assets ________ net worth. To build your vocabulary skills, answer the following question. $5,950.00 is allowed. Which of the following is not a key budgeting influence for a personal financial plan? B. How much money will she have saved by the time her son turns 18? Which of the following will not increase your liquidity ratio? A) increase. balance of savings. A(n) ________ is a forecast of your future cash inflows and outflows. Which of the following items is not impacted by the taxpayer's income level? All of the following are true with regards to the demand for financial advisors except, "Big spenders" focus their budgeting decisions on, "Big savers" focus their budget decisions on, The best measure of a person's or family's net wealth is. Few countries have remained neutral for long periods of time. What is his net cash flow this month? Which of the following would not help protect you from unethical or incompetent advice from a financial adviser? The cash flow statement reports a person's or family's A) net worth. Her deductions for federal and provincial taxes, CPP. If Kim's current debt ratio is 45%, this means that ________ of Kim's assets are purchased. **c.** Received$669,200 cash in payment of accounts receivable. D) market value of investments. Jennifer has assets of $100,000 and $10,000 of debt. True. A cash flow statement reports a person's or a family's. 8) Creating a cash flow statement requires that you determine. Which of the following is correct? Assuming the worker works and 8-hour day, has a total tax rate of 70%, an d receives a 5% contribution from his employer to his 401(k), what is the worker's total opportunity cost? Which of the following is not subject to immediate taxation? Which one of the following conducts senate meetings when the vice Martha studies all the kinds of leaves she can find in order to which describes a candidate that comes off well in the media. Leveraged investing in common shares is expected to increase your net worth. A person's net worth would increase as a result of. (3) Determining the indifference value of a particular parameter. cashed used for expenses. FICA taxes include two components, which consist of. Which of the following goals would be easiest to measure? ) A allowable amount which taxpayers can claim for themselves and dependents is called a(n). If you invest $12,000.00 today at an interest rate of 10%, how much will you have in 10 years? Budgeting helps set goals by estimating ________ on a monthly basis to determine how much to save and spend. Question 9 5 5 points The cash flow statement reports a persons or familys from ACCOUNTING 1909 at Ashworth College What table would you use to calculate the value of this contract in today's dollars? View the full answer. the earnings on savings. 5) The primary goal of financial planning is to. Question 8 The cash flow statement reports a person's or family's A value of investments. If Bill wants to increase his savings rate by 2% and he currently saves $6,750, how much additional savings will Bill need to contribute to achieve his savings goal of 11%? How much should Melanie deduct on her tax return? Many individuals tend to ________ their cash inflows and ________ their outflows. C) cash used for expenses. Which tax form is generally used by taxpayers whose filing status is married, has no dependents, and whose taxable income if less than $100,000? D) All of these are part of the cash flow statement., 2. The shares vest four years later. To save for her newborn son's college education, Kelli Peterson will invest $1,500 at the end of each year for the next 18 years. on probabilistic values assigned to one or more parameters Which of the following, A fiveyear nonredeemable GIC is classified as a(n) _______________ asset on the personal. Access to our library of course-specific study resources, Up to 40 questions to ask our expert tutors, Unlimited access to our textbook solutions and explanations. Jim has $1,000 income from his job and $200 stock dividend income this month. \text { Than \$1 Millon } Which of these statements is true with regards to the 2008-2009 financial crisis? Most Canadians have an adequate savings for emergencies. Weegy: (-2 x y + 3 x) - (2 x y + 3 x) = -4xy; or -2xy + 3x - 2xy + 3x = 6x - 4xy. B current income and payments. Cash inflows tend to be higher for younger individuals and lower for individuals in their 50s. If the class meets 16 times, what is Josh's total opportunity cost for the class? Insurance planning is not designed to protect your wealth in which of the following ways? cash inflows and outflows. (D) net worth. a. Journalize U-Build It Warehouses entries to record:\ Which of the following payments would be considered a variable expense? B) plan for borrowing. If expenses for a month are greater than income, an increase in net worth will result. In preparation of her 2012 tax return, Stephanie should file as, All reportable income from any source is called, Gross income includes all of the following except. Which of the following is a credit management decision? a)Agriculture b)Writing c)Power Loom d)Steam Engine, Yogi Berra Jr. has agreed to play for the New York Mets for $4 million per year for the next 10 years. B. changing economic conditions that affect a person's cost of living. Jerry is divorced and has two children that live with him. C) cash inflows and outflows. Corporate _______ refer(s) to a corporation's responsibility to be a positive force in the community. Warranties are commonly associated with ____________ purchases. \text { CEO Pald More } \\ When a person owns corporate stocks, government or corporate bonds, or mutual funds, An investment company that sell shares to individuals and then invests the proceeds in stocks. **Required** If you take money out of your savings account to pay off a credit card your liquidity ratio will, If you sell stock from your portfolio to pay off your car loan, your debt ratio of 0.5 will, Margaret has $5,000 in her checking account, a home with a market value of $175,000, and stocks valued at $10,000. Which of the following is not a cash outflow? An example of a personal and employment document is a: A brokerage statement is an example of a(n) ____________ record. If I deposit a sum of money today and wish it to double in 10 years, I will need to receive an interest rate of slightly above ________. 29 The reason for step 3 is A Substitution property B Definition of congruent, Up to 1932 the US government actively persecuted unions and their members The, Any bank that makes too many risky loans will fail 2 Women military of fi cers, InfoSec Lab 4 Performing Reconnaissance from the WAN.docx, b the investment in accounts receivable c bad debt expenses d level of liquid, IHP 330 Module Four Worksheet correct.docx, Expense accounts are deducted from revenue accounts to obtain net income or net, Calculating the value of GDP of two countries using the Purchasing Power Parity, A Ensuring that documentation is complete B Ascertaining any product support, D Explain Ask pupils instances where alphabetization is being used and what good, Guadalupe Diaz and Jasinski 17 questions and I just sort of basically told her, Assessment Version 4 CHCPRP001 Page 12 of 21 hm vhyh ymv hm vhyh ymv hm vhyh ymv, Question 7 1 1 pts Which type of analytics test applies business analytics to, Add Question Here Question 29 Multiple Choice 1 points Modify Remove Question. maximize wealth. The time value of money implies that a dollar received today is worth ________ a dollar received tomorrow. Lucky Louie has the following cash inflows and outflows: $500 rent, $200 car payment. A person's net worth would increase as a result of, The net worth of an individual or family can be increased by, The best measure of a person's or family's wealth is, If your cash outflows are $600 and your cash inflows are $1,000, you can increase your net worth by. B) current income and payments. Which of the following are considered to be personal financial statements? Be sure to show all key features such as intercepts, asymptotes, high and low points, points of inflection, cusps, and vertical tangents. Given the following, what is the individual's net worth? Stocks are considered liquid assets since they are easy to sell without a loss in value. 7) The cash flow statement reports a person's or family's. B) current income and payments. D) cash inflows only., The cash flow statement reports a person's . Which of the following is not a cash inflow? A 10% discount on the purchase is offered to the customer at the time of the credit application.The time required to complete a credit application is evenly distributed, taking anywhere from four minutes to ten minutes. C) plan for borrowing. Byron is investigating a mutual fund that claims that $1,000 today will be worth $5,000 in five years. $$ In addition he baby-sits three other children in the evenings and has a cat and two dogs. A person's lifestyle is a reflection of his or her values, goals, career, and family situation. B) liabilities. With a discount rate of 12%, what is the present value of your winnings? This answer has been confirmed as correct and helpful. Terms Which of the following tables should she use? Her expenses are $400 per month rent on her apartment, $100 per month for food, and $100 per month for utilities. If Lynn and Robert file a joint return, how many exemptions may they claim? Which one of the following is a liquid asset? TRUE. Allison anticipates an additional car expense two months from now of $400 for new tires that she has not previously budgeted for. Yogi Berra Jr. has agreed to play for the New York Mets for $4 million per year for the next 10 years. If a company is randomly selected from the list of 20 studied, what is the probabilityThe shareholders lost money or the CEO made more than $1 million? Your financial plan is usually strongly influenced by, Since career choices affect your income, you should choose one. C value of investments. B) liabilities. This year she also had medical, expenses of $2,000.00. Paying off a credit card with cash will have which of the following effects on net worth? He receives annual interest of 8% for 7 years. Cash flows are affected by financial planning decisions. C) stay the same. B) current income and payments. Takehome pay is a person's earnings after deductions for taxes and other items. A plan for ________ is needed to determine how much you could afford to borrow, the length of the loan, and to select a loan that charges competitive interest rates. If your current debt to asset ratio is 50%, which of the following will increase it? A family with $80,000 in assets and $22,000 of liabilities would have a net worth of: A person with $80,000 in assets and $122,000 of liabilities would have a net worth of: This year Phil's gross income is $80,000. compounding as it applies to a lump sum or single money amount, compounding as it applies to periodic deposits--stream of equal payments that are recieved/paid at equal intervals in time, Fundamentals of Financial Management, Concise Edition, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. If Nancy adheres to this savings plan, how much would she have available each month for a car payment. Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamentals of Financial Management, Concise Edition, Daniel F Viele, David H Marshall, Wayne W McManus, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield. A decrease in net worth would be the result of: B. expenses greater than income for a month. Jane purchased General Motors stock seven years ago for $20,000. The future value of an annuity assumes that the payments are received. If Bill currently saves $6,750 annually, how much more will, If Jo Ann has $4,000 in liquid assets and $1,000 in current liabilities, her liquidity ratio is. Which of the following does not protect your assets and/or income? Present and future values concepts are not applied to which of the following? Improvements in a person's financial position are the result of: To determine a person's solvency, which financial document should be consulted? Creating a cash flow statement requires that you determine A) assets. Payments that do not vary from month to month are ____________ expenses. Weegy: any money coming into and out of household. Which of the following situations is a person who could be insolvent? A. She has, Janice spends a total of $1,500 a month to cover all living expenses. How much must you invest today at 8% interest in order to see your investment grow to $15,000 in 10 years? LIST THE SIZ COMPONENTS OF A FINANCIAL PLAN. If you are interested in achieving a long-term savings goal, then. Which of the following would be a long-term goal? Information can be easily found on Web sites that will assist you in determining all of the following except. The process of obtaining ________ values is referred to as compounding. D plan for borrowing. Lynn and Robert are married and support Lynn's father who has no income, and Robert's mother, who has no income. exemption of $3,800.00. Determine basic and diluted earnings per share for Witter House in 2016. Jessie has $4,000 in a bank account, $2,800 in a 401(k) plan at work, a car with a current value of $28,000, and a house that she purchased for $92,000 that has a current value of $118,000. D) value of investments. Question: Question 8 The cash flow statement reports a person's or family's A value of investments. Evidence exists that a person's choice of employment influences his or her lifestyle. Don wants to know how much he needs to save every year to amass $15,000 in five years at a 5% interest rate. Which of the following statements is not true regarding FICA taxes paid? Which of the following is not a tax filing status option? The cash flow statement reports a person's or family's. shepherd. The cash flow statement reports a person's or family's. current income & payments. B) liabilities. b. A personal cash flow statement can serve as the basis for the budget categories used by an. (The company uses the perpetual inventory system and it applies the allowance method for its accounts receivable. B) cash outflows only. The Crown family has a difficult time staying on a budget. \quad \text { Total } & 6 &14 &20 \\ What filing status should Jerry claim on his tax return? C) plan for C) plan for borrowing. Your financial position is highly influenced by all of the following except. Liquid assets refers to. Property such as a person's home, car, and furniture is called, The amount you would receive if you sold an asset today is called the asset's, Investment assets include all of the following except. Future and present values are dependent upon all of the following except, If you are presented with an offer to accept payment now or a greater amount in the future, you would use (assuming you can invest the money at a known rate), As the time period until receipt increases, the present value of an amount at a fixed interest rate. A family with $70,000 in assets and $22,000 of liabilities would have a net worth of: Items with a monetary worth are referred to as: E. items that are easily converted to cash. Please do not hesitate to let me know if you need more info. By establishing high and unrealistic financial goals, you will probably, Goals with a time frame of between one and five years are classified as. A. raised the tax rates for the highest income portion of the population, B. limited further the ability to contribute to retirement plans tax-free, C. provided educational incentives to most taxpayers, D. reduced the child care credit available to most young families, Melanie, a homeowner, has mortgage interest of $3,000.00, real estate taxes of $1,500.00, and, charitable contributions of $500.00. Purchasing which of the following items on credit will help reduce your tax bill? If your cash outflows are $600 and your cash inflows are $1,000, you can increase your net. 11) Cash outflows are also called. A personal cash flow statement presents income and outflows of cash for a given time period. The wages that you forego when you leave work early to attend class is an example of a(n) ________. 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