C) cash inflows and outflows. 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) plan for borrowing. 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. Free essays, homework help, flashcards, research papers, book reports, term papers, history, science, politics View M2Assignment.pdf from FINC 2400 at Auburn University. B) current income and payments. This month Jim has rent and utilities of $300 and he spent $200 on groceries and $100 on clothing. The shares vest four years later. The cash flow statement reports a person's or family's A) net worth. C) maximize wealth. 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 spending exceeds the amount of your income over a period of time, your best option is probably to. Budgeting The cash flow statement reports a person's or family's A) net worth. C value of investments. A personal statement of cashflow measures cash inflows as well as cash outflows. By establishing high and unrealistic financial goals, you will probably, Goals with a time frame of between one and five years are classified as. If you do not budget for unexpected expenses in a given month, you will likely experience a(n). This month Jim has rent and utilities of $300 and he spent $300 on groceries and $200 on clothing. [Solved] The cash flow statement reports a person's or family's A) net worth. $$, Match the terms in the first column with an appropriate definition from the second column. C) cash used for expenses. 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. The increased mortgage payment was in effect the remainder of the year. Debts that are to be paid off within a year are called, Long term liabilities include all of the following except. the issuance of the note.\ Long-term liabilities are debts that will be paid at least three years into the future. C. Creating a cash flow statement requires that you determine A) assets. A personal cash flow statement is usually the starting point for an individual's or family's. budget. Given the following, what is the individual's net worth? Everything else being equal, the ________ the interest rate, the ________ the final accumulation of money. Gross income and adjusted gross income can be the same if you do not have any special adjustments. D. decreased value of personal possessions. The fair value of the options was estimated on the grant date to be$3 per option. D) cash inflows and outflows. \end{array} & \begin{array}{c} B) maximize cash inflows. Which of the following items is not impacted by the taxpayer's income level? Definitions What is Jane's gain or loss? True. 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 is not a decision that you would probably encounter in managing your budget? What was the total impact on Jakob's cash flow for the year? a. D) value of investments., 3. Which of the following taxes is only paid on the first $110,100 of your salary? 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. Which of the following. Finance. Then sketch the graph of the function. 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. Jake invested $800 in an IRA. The personal cash flow statement measures A) cash inflows. The wages that you forego when you leave work early to attend class is an example of a(n) ________. I would need help in the creation of a chart for petty cash transactions listed below. Study with Quizlet and memorize flashcards containing terms like Opportunity cost refers to: A. current spending habits. Which of the following is a credit management decision? Creating a . What is he solving for using his financial calculator? View FINC 2403 M2 Assignment .docx.pdf from FINC 2400 at Auburn University. A personal cash flow statement presents income and outflows of cash for a given time period. Paying off a credit card with cash will have which of the following effects on net worth? 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. C) cash used for expenses. Which of the following statements is not true regarding FICA taxes paid? Takehome pay is a person's earnings after deductions for taxes and other items. 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. D) value of investments. A complete financial plan contains all of the following categories except. Which of the following would increase your liquid assets? The stock options qualify for tax purposes as an incentive plan. 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. 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. Creating a cash flow statement requires that you determine A) Assets B) Liabilities C) Cash used for expenses Which of the following would not be considered a very good investment? Prepare journal entries to record Liang's 2016 and 2017 summarized transactions and its year-end adjustments to record bad debts expense. Allison expects her monthly cash inflow after taxes to be $3000. Which of the following is not an example of a future value? Which of the following, A fiveyear nonredeemable GIC is classified as a(n) _______________ asset on the personal. Your financial position is highly influenced by all of the following except. A cash flow statement that is based on forecasted cash flows for a future time period is called a(n). \end{array} 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. She does not own a home but has charitable, contributions of $1,500.00 and interest on her car of $2,100.00. The personal cash flow statement measures. (a) Breakeven analysis A person's net worth would increase as a result of. Weegy: (-2 x y + 3 x) - (2 x y + 3 x) = -4xy; or -2xy + 3x - 2xy + 3x = 6x - 4xy. If a stock was purchased in January 2009 for $1,000 and sold in December 2010 for $3,000, a ________ of $2,000 results. Which of the following is not a key budgeting influence for a personal financial plan? If budgeted spending is less than actual spending, this is referred to as a deficit. 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. Insolvency is a result of having an unequal balance of tangible and intangible goods. 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. Jerry is divorced and has two children that live with him. The concept of time value of money is based on. Which of these statements is true with regards to the 2008-2009 financial crisis? User: What does Weegy: The kingdom described in "The Lady, or the Tiger " is mythical. Nancy is paid $2,000 biweekly (26 pays per year) in her job as a market researcher. Bill's annual savings rate is 9%. Information can be easily found on Web sites that will assist you in determining all of the following except. She is allowed a standard deduction of $5,950.00 and one personal. If expenses for a month are greater than income, an increase in net worth will result. D) value of investments. Which of the following is not considered an asset for a family? He has $1,000 in current liabilities. Which of the following is not an asset you might find on a personal balance sheet? ________ management involves decisions regarding how much money to retain in a liquid form and how to allocate funds among short-term investment instruments. Which of the following is not a step in developing a financial plan? What is his net cash flow this month? 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. The act of determining how wealth will be distributed before or upon death is. B) current income and payments. Most income tax documents and records should be kept in a safety deposit box. This month he also has. Determine basic and diluted earnings per share for Witter House in 2016. She has, Janice spends a total of $1,500 a month to cover all living expenses. Which of the following is not a tax filing status option? If Kim's current debt ratio is 45%, this means that ________ of Kim's assets are purchased. Byron is investigating a mutual fund that claims that $1,000 today will be worth $5,000 in five years. Which of the following Web sites should you question the accuracy of the information provided? What action would be appropriate? FICA taxes include two components, which consist of. D plan for borrowing. Her deductions for federal and provincial taxes, CPP. cash inflows and outflows. Creating a cash flow statement requires that you determine A) assets. 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. 7) The cash flow statement reports a person's or family's. B) current income and payments. D) None of the above; the employment of spouses is unrelated to consumption behavior. Which of the following would not help protect you from unethical or incompetent advice from a financial adviser? Which of the following situations is a person who could be insolvent? 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. \text { Shareholders lost money } & 4 & 3 & 7\\ The kingdom described in "The Lady, or the Tiger " is 17. 1) For most people, the first obstacle is to correctly assess their true net income. Yogi Berra Jr. has agreed to play for the New York Mets for $4 million per year for the next 10 years. The payment items that should be budgeted first are. 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. These transactions are summarized as follows: Jeff has a $1,000 salary and a $100 dividend income this month. If you invest $12,000 today at an interest rate of 10%, how much will you have in 10 years? B) Current income and payments. Using this find what is the standard deviation of the process time? 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? The solution that resulted from the experiment was neutral. C value of investments. Ed Bostrom wants to reduce his fixed expenses. Q. TRUE. B) cash outflows only. (b) Sensitivity analysis $\hspace{15pt}1$. A cash flow statement reports a person's or a family's. Question and answer. All of the following are types of nontaxable income except. 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? D. tradeoffs associated with financial decisions. ** Wrote off $18,300 of uncollectible accounts receivable. Which of the following would be classified as a short-term goal? $$. 7) The cash flow statement reports a person's or family's. A) net worth. If you are interested in achieving a long-term savings goal, then. **h.** In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable will be uncollectible. Course Hero is not sponsored or endorsed by any college or university. C) plan for borrowing. Which of the following payments would be considered a variable expense? B) liabilities. As your income, Bill's annual savings rate is 9%. $$ Round to the nearest dollar. Corporations issue stocks for all of the following reasons except. Which of the following is not an appropriate approach to solving the problem of an annual budget deficit? 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 Nancy adheres to this savings plan, how much would she have available each month for a car payment. ________ are specific expenses instead of a standard amount that reduce adjusted gross income. Stocks are considered liquid assets since they are easy to sell without a loss in value. What is Jessie's current net worth? (2) Determining probabilistic statements about the worth of an investment based How much interest will he earn on his investment during this time period? 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. Improvements in a person's financial position are the result of: To determine a person's solvency, which financial document should be consulted? Your decision about one component of your financial plan can affect all other components. answer choices. If the class meets 16 times, what is Josh's total opportunity cost for the class? 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. Corporations issue stocks for all of the following reasons except. 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. Which of the following are considered to be personal financial statements? ________ is the process of forecasting future expenses and savings. \text { CEO Pald Less } \\ Jerry wants to know how much he needs to save every year to accumulate $15,000 in five years at a 10% interest rate. The current financial position of an individual or family is best presented with the use of a(n). B. changing economic conditions that affect a person's cost of living. **d.** In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable will be uncollectible. 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. A allowable amount which taxpayers can claim for themselves and dependents is called a(n). B) liabilities. 120 seconds. The restricted stock does not. 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. cashed used for expenses. $$ or more parameters **c.** Received$669,200 cash in payment of accounts receivable. B) plan for borrowing. Log in for more information. What are Jerry's liabilities? (c) Risk analysis The fair value of the stock was $12 per share on the grant date. 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. \end{array} & \text { Total } \\ C) cash inflows and outflows. **Required** \text { CEO Pald More } \\ the amount of insurance coverage a person has. She also has the following, Allison anticipates an additional car expense two months from now of $400 for new tires that. The process of obtaining ________ values is referred to as discounting. D. tradeoffs associated with financial decisions. Which of the following usually affects cash inflows the most? Corporate _______ refer(s) to a corporation's responsibility to be a positive force in the community. Evidence exists that a person's choice of employment influences his or her lifestyle. Which of the following goals would be easiest to measure? ) Which of the following would not be a factor in evaluating your current financial position? It shows the difference between the . The tax method that uses the principle of taxing those more who earn more is called ________ taxation. 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. Jim has $1,000 income from his job and $200 stock dividend income this month. The cash flow statements for an individual show a person's income and expenses. She also has the following monthly expenses: Rent, $750; student loan payment, $200; utilities, $150; food, $300; recreation, $600; car expenses, $200; clothing, $150. Which statement is true? How much should Melanie deduct on her tax return? User: The setting is a gambling parlor in A cash flow statement reports a person's or a family's. B) current income and payments. Therefore, he has ________. A cash flow statement reports a person's or a family's. How many exemptions can he claim on his tax return? C. Find a place to live with a lower rent. Her expenses are $400 per month rent on her apartment, $100 per month for food, and $100 per month for utilities. D) minimize financial risk., The personal cash flow statement measures A) the rate of cash flow. Her savings rate is, You save the same dollar amount from each paycheck during your career. The time value of money implies that a dollar received today is worth ________ a dollar received tomorrow. Lucky Louie just inherited $50,000 from his great aunt, has $1,500 in his checking account. B) current income and payments. Definite financial obligations are referred to as variable expenses. Cash inflows tend to be higher for younger individuals and lower for individuals in their 50s. 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 gross income is not taxable income? The companys net income was$150 million and $160 million in 2016 and 2017, respectively. If your current debt to asset ratio is 50%, which of the following will increase it? (The company uses the perpetual inventory system and it applies the allowance method for its accounts receivable. \text { Than \$1 Millon } C) cash inflows and outflows. Which of the following decisions would involve the use of the future value of a $1 ordinary annuity table? 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 ________. Question 4 of 20 5.0/ 5.0 Points The cash flow statement reports a person's or family's __________ . Which of the following financial documents would most likely be stored in a home file? \quad \text { Total } & 6 &14 &20 \\ A. different in various geographic areas. Few countries have remained neutral for long periods of time. 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. Which of the following can be deducted from your taxes even if you do not itemize? The cash flow statement reports a person's or family's. shepherd. Susie wants to know how much she needs to save today to have $5,000 in five years. A personal cash flow statement can serve as the basis for the budget categories used by an. E. avoiding the use of consumer credit., A home file should be used for: A. storing . a. According to her filing status, a standard deduction of. A stream of equal payments either received or paid at equal time intervals is a(n) ________. Why is it important to monitor your debt level? Josh currently earns $18.50 per hour. Which of the following decisions would involve the use of the present value of $1? Don wants to know how much he needs to save every year to amass $15,000 in five years at a 5% interest rate. \begin{array}{|lccr|} George is 65 years old. A) increase. Money received today is worth more than the same amount of money received in the future. What action should Allison take? Which of the following is not a liquid asset? D) value of investments. He supports his father who is 90 years old, blind, and has no income. Which of the following statements about stocks is not true? If Kim's current debt ratio is 45%, this means that ________ of Kim's assets are purchased on credit. How much must you invest today at 8% interest in order to see your investment grow to $15,000 in 10 years? C) cash used for expenses. the payment of the note at maturity. 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. 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. Read the following sentence. B current income and payments. Liabilities are cash and items of value that can be easily converted to cash. Lucky Louie has the following cash inflows and outflows: $500 rent, $200 car payment. C) plan for 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 tax form is generally used by taxpayers whose filing status is married, has no dependents, and whose taxable income if less than $100,000? on probabilistic values assigned to one or more parameters User: Given the formula K = LMN, Weegy: President pro tempore conducts Senate meetings when the vice president is unavailable. In 2012, self-employed individuals pay FICA taxes at a rate of. ) Determine basic and diluted earnings per share for Witter House in 2017. a. Journalize U-Build It Warehouses entries to record:\ 2.1 Personal Cash Flow Statement. If you invest $12,000.00 today at an interest rate of 10%, how much will you have in 10 years? D) value of investments. The primary goal of financial planning is to. Which of the following is not correct? Current liabilities are amounts that must be paid within a short period of time, usually less than a year. 2) Salary or wages are the only cash inflows for working people. ariesmom79|Points 75| Payments that do not vary from month to month are ____________ expenses. 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. wrote. Current liabilities differ from longterm liabilities based on, Ben Chase needs to pay off some of his debts over the next few months. B) liabilities. An individual retirement account is an example of a(n) ____________ asset. The primary goal of financial planning is to. What is each part ner's share of a net income of $12,852? Please do not hesitate to let me know if you need more info. C) stay the same. The time value of money can be applied to all of the following except. Sandy wants to know how much she needs to save today to have $5,000 in five years at a 7% interest rate. 9) Which of the following is not a cash inflow? The cash flow statement reports a person's or family's. current income & payments. 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. If you are a married taxpayer, you may use the ________ filing status. **g.** Received$1,204,600 cash in payment of accounts receivable. B) current income and payments. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. 100% (8 ratings) Solution: The cash flow statement reports a person's . D) All of these are part of the cash flow statement., 2. How much money will she have saved by the time her son turns 18? ________ allows access to funds to cover any short-term cash deficiencies. The average price of the common shares was$12 and $15 during 2016 and 2017, respectively. B) current income and payments. Which item below cannot be taken as an itemized deduction? D) cash inflows only., The cash flow statement reports a person's . Present and future values concepts are applied to which of the following decisions except. To build your vocabulary skills, answer the following question. This month, Jim has $1,000 of salary and $100 of dividend income this month. 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. D) value of investments. 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. During the last month, Mary Jane had expenses of $5,000 and an increase in net worth of $700. 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. 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. 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. ** Sold $1,345,434 of merchandise (that had cost$975,000) on credit, terms n/30. 5) The primary goal of financial planning is to. ________ management involves decisions regarding how much credit you need to support spending and which sources of credit to use. Which of the following could save a smaller proportion of their earnings to achieve the same level of wealth? (D) net worth. The cash flow statement reports a person's or family's A) net worth. The difference between an ordinary annuity and an annuity due is with an annuity due the payments occur at the ________ of each period. Your net worth can change even if your net cash flows are zero. 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. Jennifer has assets of $100,000 and $10,000 of debt. Go to Answer: Posts: 2986 Rep: 16 1 4 years ago 4 years ago The cash flow statement reports a person's or family's . If both a husband and wife are employed, their consumption will tend to. 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 a stock was purchased for $5,000 in January 2010 and is sold in December 2010 for $3,000, a ________ of $2,000 results. A) assets. Liang Company began operations on January 1, 2016. Which of the following tables should she use? With a discount rate of 12%, what is the present value of your winnings? Which of the following is an example of money management? When one money management decision is selected, something else must be given up. What filing status should Jerry claim on his tax return? Study with Quizlet and memorize flashcards containing terms like 1. C. storage facilities to make financial documents easily available. 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. The highest tax rate a taxpayer is charged on his or her federal tax return is called the ________ rate. He receives annual interest of 8% for 7 years. Place your order now for a similar assignment and have exceptional work written by one of our experts, guaranteeing you an A result. Which of the following is not a type of decision to manage your liquidity? Personal finance does not include the process of planning your, A personal financial plan specifies financial goals and describes. A decrease in net worth would be the result of: B. expenses greater than income for a month. Josh has decided to take a course at the local community college that could help him get a promotion at work. Question 8 The cash flow statement reports a person's or family's A value of investments. His employer contributes 10% of Josh's gross earnings to a 401(k). Allison anticipates an additional car expense two months from now of $400 for new tires that she has not previously budgeted for. A worker making $20 per hour decides to take unpaid leave from work to attend a graduation ceremony. Question: Question 8 The cash flow statement reports a person's or family's A value of investments. 8) Creating a cash flow statement requires that you determine. balance of savings. B) decrease.
***2017*** C. The Crown family has a difficult time staying on a budget. Jerry has assets of $200,000, a net worth of $150,000, and an annual income of $100,000. In order to take advantage of the time value of money you should do all of the following except. Bloomberg Businessweek recently published a survey that looked at CEO pay at big businesses and whether or not shareholders gained money. Current income and payments. If your monthly disposable income equals $1,500 and you currently save $500/month, your savings rate is ________. During the past month, Jennifer Sinnet had income of $3,500 and a decrease in net worth of. Medical expenses, clothing, and telephone are examples of fixed expenses. Personal records current budget, cheque book(s) and bank statements. The income in your budget is not affected by. What is he solving for? b. Which of the following statements is not true regarding education and financial position? All of the following affect cash outflows except, If both a husband and wife are employed, their consumption behavior will, Cash flow can be increased by all of the following except. A budget will not do which of the following? 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. \hline Have a. Mr. Berkey invests $10,000 in a money market account at his local bank. Thomson Home Furnishings Co. discounts the note at $7\%$\ Michael's filing status is, Stephanie, who was divorced in 2012, had filed a joint tax return with her husband in 2011. B current income and payments. 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. Required: 1. Cash flows are affected by financial planning decisions. View the full answer. Which of the following is not a true statement about mutual funds? Which of the following is not subject to immediate taxation? The course begins at 5 p.m. and goes until 9 p.m. on Monday nights. Jerry has assets of $200,000, a net worth of $150,000, and an annual income of $100,000. Which of the following is not a cash inflow? Which of the following will not increase your liquidity ratio? 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. A budget will not do which of the following? plan for spending. Jane purchased General Motors stock seven years ago for $20,000. The higher the rate used in determining the future value of an annuity. Creating a cash flow statement requires that you determine. The concept of time value of money is important to financial decision making because. B. actual expenses are greater than planned expenses. Which of the following decisions would involve the use of the present value of a $1 ordinary annuity table? WINDOWPANE is the live-streaming app for sharing your life as it happens, without filters, editing, or anything fake. C) plan for borrowing. 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. The cash flow statement reports a person's or family's. current income and payments. \hline & \begin{array}{c} During 2012, she did not remarry and continued to maintain her home in which her three dependent children lived. C) cash used for expenses. B) current income and payments. In which sentence does neutral have the same meaning as it does in the sentence above? 3) Creating a cash flow statement requires that you determine. A. 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. Yetzin and Golub are business partners and share net income in a ratio of 7 to 5, respectively. Which of the following it not an annuity? LIST THE SIZ COMPONENTS OF A FINANCIAL PLAN. In 2012, she sells the stock for $35,000. $\hspace{15pt}2$. If Lynn and Robert file a joint return, how many exemptions may they claim? Which of the following is not a cash outflow? An expense that could be included in the itemized deductions of a taxpayer is. When you own a house as a primary residence. Which cash inflow will probably be discontinued after retirement? citizenship bylaws mission statements hierarchy, Which Invention radically changed textile manufacturing? Which of the following is not one of these special adjustments? Round amounts to the nearest dollar. **a. 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. This year she also had medical, expenses of $2,000.00. Which of the following decisions would involve the use of the future value of $1? C) plan for borrowing. A. subtracting total liabilities from total assets. Which of the following financial documents would most likely be stored in a safety deposit box? In addition he baby-sits three other children in the evenings and has a cat and two dogs. What table would you use to calculate the value of this contract in today's dollars? Its income tax rate is 40%. Finance questions and answers. This answer has been confirmed as correct and helpful. The interest rate she expects to earn on her investment is 9%. The cash flow statement reports a person's or family's __________ . What is his cash inflow this month? Budgeting The cash flow statement reports a person's or family's A) net worth. Lynn and Robert are married and support Lynn's father who has no income, and Robert's mother, who has no income. 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. 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. Many individuals tend to ________ their cash inflows and ________ their outflows. Which of the following statements about stocks is not true? \hline \text { Shareholders made money } & 2 & 11 & 13 \\ Weegy: any money coming into and out of household. 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. How do we all benefit from the work of entrepreneurs? 11) Cash outflows are also called. Cash inflows tend to be the highest in which of the following? From a financial standpoint when should a person start retirement planning and saving? Michael's brother, Thomas, lives with Michael in his own home. The accumulation of interest over time is called.
***2016*** If your income exceeds the amount you spend, you should ________ your investments or ________ loans. ). B. Determine intervals of increase and decrease and intervals of concavity for the given function. Which of the following usually affects cash inflows the most? Which of the following actions will not increase your net worth? 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. Margaret also has a credit card debt of $15,000. Aaron wants to put $200 per month into an IRA account at 15% for four years. A) assets. c. The counselor has remained neutral throughout the dispute. Potential investments include all of the following instruments except. Insurance planning is not designed to protect your wealth in which of the following ways? D) market value of investments. a person's inability to pay his or her debt. A. What is he calculating using his financial calculator? Which of the following is the correct method for starting with gross income and computing taxable income? The future value of an annuity assumes that the payments are received. Present, Hello there. 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. C) maximize wealth. Question 9 5 5 points The cash flow statement reports a persons or familys from ACCOUNTING 1909 at Ashworth College Which of the following is not a legitimate itemized deduction? $5,950.00 is allowed. 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. C) plan for borrowing. Several retail stores issue their own credit cards. The cash flow statement reports a person's or family's A net worth. 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. Nancy also has student loans on which she makes monthly payments of $200. Which of the following would be a long-term goal? Which of the following is not a true statement about mutual funds? Which of the following is not a tax credit mentioned in the chapter? Allison expects her monthly cash inflow after taxes to be $3,000. An example of a personal and employment document is a: A brokerage statement is an example of a(n) ____________ record. D plan for borrowing. 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. Transcribed image text: The cash flow statement reports a person's or family's A net worth. 2. B) plan for borrowing. The process of obtaining ________ values is referred to as compounding. The cash in your wallet, your checking account balance, and your savings account comprise your ________ assets. Your net worth will not be increased by which of the following actions? Most investments are subject to ________, which is the uncertainty surrounding their potential return. What is Allison's net cash flow for the current month? 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%? A. current income and payments B. net worth C. plan for borrowing D. value of investments. exemption of $3,800.00. The cash flow statement reports a person's or family's A) net worth. Which of the following is not an acceptable method of reducing your tax bill? A branch of the U.S. Treasury Department, called the ________, administers the federal tax system. If you prepare a document that shows your cash inflows and cash outflows it is called a(n) ________. Liquid assets refers to. Warranties are commonly associated with ____________ purchases. Cash flows are affected by financial planning decisions. B) cash outflows. C) plan for borrowing. Paying off a credit card with cash will have which of the following effects on net worth? A cash flow statement reports a person's or a family's current income and payments. Which of the following conditions will not afford you a tax advantage? 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. Leveraged investing in common shares is expected to increase your net worth. Your ability to access funds to cover any short-term cash deficiencies is your ________. Which of the following is not taxable for income tax purposes? Terms Determining taxes requires you to address all of the following topics except. A(n) ________ is a forecast of your future cash inflows and outflows. 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. Describe how costs flow from inventory to cost of goods sold for the following methods: (*a*) FIFO. c) current income and payments. The accumulation of interest over time is called __________ . In the balance sheet, a(n) ________ in assets ________ net worth. **f.** Wrote off $27,800 of uncollectible accounts receivable. What table would you use to calculate the value of this contract in today's dollars? f(x)=x^3-3 x^2+2 What was the net effect on Fritz's net worth of these transactions? I hope you are doing well. the ease of converting a financial resource into cash without a loss in value. If you own stock that has increased in price, it would be best to sell it after you have owned it for at least. 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. Which of the following tables should he use? Which of the following tables should she use? The dining area should be painted in a neutral color. the earnings on savings. Which item on his. B) liabilities. If your cash outflows are $600 and your cash inflows are $1,000, you can increase your net. Which of the following does not protect your assets and/or income? B) expenses. If your net cash inflows exceed your net cash outflows, you can increase your net worth by investing the difference in more ________. B) current income and payments. After which word should you pause? maximize wealth. cash used for expenses. A person's lifestyle is a reflection of his or her values, goals, career, and family situation. Your financial plan is usually strongly influenced by, Since career choices affect your income, you should choose one. Jennifer has assets of $100,000 and $10,000 of debt. Which of the following would be considered a longterm liability? (3) Determining the indifference value of a particular parameter. If Jo Ann had $4,000 in liquid assets and $1,000 in current liabilities, she would have a liquidity ratio of. During his ________ your Uncle Harvey decides to cut you out of his will. Which of the following is an example of an opportunity cost? What is the annual depreciation for each of the 6 years for an automobile costing $28,000? Be sure to show all key features such as intercepts, asymptotes, high and low points, points of inflection, cusps, and vertical tangents. D) market value of investments. Most Canadians have an adequate savings for emergencies. \text { Than } \mathbf{\$ 1} \text { MIlllon } Which of the following presents a summary of income and outflows for a period of time? This is true because. maximize wealth. Purchasing which of the following items on credit will help reduce your tax bill? How many exemptions should George claim on his tax return? 1. (1) Determining how the worth of an investment changes with changes in one Budgeting helps set goals by estimating ________ on a monthly basis to determine how much to save and spend. Creating a cash flow statement requires that you determine. **e.** Sold $1,525,634 of merchandise on credit (that had cost$1,250,000), terms n/30. Jerry is divorced and has two children that live with him. In the balance sheet, a(n) ________ in assets ________ net worth. The financial crisis of 2008-09 affected the financial position of individuals in all of the following ways except which of these? U-Build It Warehouse issues a $45$-day note for $\$800,000$ to Thomson Home Furnishings Co. for merchandise inventory. Witter House is a calendar-year firm with 300 million common shares outstanding throughout 2016 and 2017. Study with Quizlet and memorize flashcards containing terms like The primary goal of financial planning is to A) increasing earnings. 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 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 ________. 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. If you have current assets of $20,000 and current liabilities of $10,000, then you. The personal cash flow statement measures. Which one of the following is a liquid asset? Margaret's liquidity ratio is, Nancy has $40,000 of annual disposable income and saves $8,000 a year. Present and future values concepts are not applied to which of the following? 6) The personal cash flow statement measures. 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. 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. 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. Thomas has a full-time job and pays his brother for rent and utilities. Sally's adjusted gross income is $38,000.00. User: A cash flow statement reports a person's or a family's: (Points : 2) net worth.current income and payments. Question 12. A budget is a record of how a person or family has spent their money. What is Sally's taxable income? 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. 2) The cash flow statement reports a person's or family's. A) net worth. d. The car rolled down the hill because it was left in neutral. **b. Mark your answer on a separate sheet of paper.
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