Question

Which of the following statements is/are correct? 1. The principal but not the interest to be...

Which of the following statements is/are correct?

1. The principal but not the interest to be paid this year on a 30-year mortgage is properly
      classified on the Statement of Financial Position as a current liability.

2. A CD with a maturity of 9-months is classified as an investment asset on the Statement of
      Financial Position.

Select one:

a. a.   1 only.

b. b.   2 only.

c. c.   Both 1 and 2.

d. d. Neither 1 nor 2.

Question 12

Not yet answered

Points out of 1.00

Flag question

Question text

Which of the following statements is/are correct?

1. Net worth represents the personal equity that the individual has in his assets and can never be

less than zero.

2. If Lisa purchased a car using 30% cash and 70% debt, her net worth would increase by 30%.

Select one:

a. a.   1 only.

b. b.   2 only.

c. c.   Both 1 and 2.

d. d. Neither 1 nor 2.

Question 13

Not yet answered

Points out of 1.00

Flag question

Question text

Which of the following statements is/are correct?

1. Property titled Joint Tenants with Rights of Survivorship (JTWROS) can only be owned by

married couples.

2. Property titled Tenants by the Entirety can only be owned by married couples.

Select one:

a. a.   1 only.

b. b.         2 only.

c. c.   Both 1 and 2.

d. d. Neither 1 nor 2.

Question 14

Not yet answered

Points out of 1.00

Flag question

Question text

Which of the following statements is/are correct?

1. The Statement of Cash Flows includes monthly recurring cash flows from income and expenses.

2. The Statement of Net Worth explains changes to net worth between two Statements of Financial

Position that are not reported elsewhere on other financial statements.

Select one:

a. a.   1 only.

b. b.         2 only.

c. c.   Both 1 and 2.

d. d. Neither 1 nor 2.

Question 15

Not yet answered

Points out of 1.00

Flag question

Question text

Which of the following statements is/are correct?

1. The emergency fund ratio metric should be 3 to 6 months of non-discretionary cash flows.

2. When calculating the savings rate for a family, any contributions to retirement made by the

employer should be included.

Select one:

a. a.   1 only.

b. b.   2 only.

c. c.   Both 1 and 2.

d. d. Neither 1 nor 2.

Samantha has the following transactions:

• She purchases $5,000 worth of a mutual fund with cash from her savings account.

• She spends $6,000 on a vacation with cash from her money market account

• She spends $10,000 on new furniture, and uses her credit card to make the purchase.

What is the combined impact of these transactions on her net worth?

Select one:

a. a.   $21,000 decrease.

b. b.   $6,000 decrease.

c. c.   $15,000 increase.

d. d.         $6,000 increase.

Given the following:

Tracy and Brett are married.
Their current assets $9,243
Their current liabilities $6,921
Their monthly nondiscretionary expenses $4,693
Their annual combined income $70,000
Their annual debt payments (excluding monthly housing costs) $22,084

Assume for this question only that Tracy and Brett’s monthly housing costs (P&I&T&I) are $1,500.

Which of the following lender thresholds will Tracy and Brett meet?

Select one:

a. a. The 28% benchmark.

b. b. The 36% benchmark.

c. c. Both benchmarks.

d. d. Neither benchmark.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What clearly dominates the school-level textbooks in the Arabic language, as per evidence stated in a...
What clearly dominates the school-level textbooks in the Arabic language, as per evidence stated in a working paper regarding Jordan? Select one: a. Female centered words and images. b. Male centered words and images c. Words and images that are not gender based d. None of the above Question 4 Not yet answered Marked out of 1.00 Flag question Question text Some nations are much richer than others, because the people from those nations are more intelligent than those from...
Which of the following statements is correct about SWAP ? Select one: a. Notional principal is...
Which of the following statements is correct about SWAP ? Select one: a. Notional principal is exchanged both in the case of Interest Rate Swaps as well as Currency Swaps b. Notional principal is exchanged only in the case of Currency Swaps c. Notional principal is exchanged neither in the case of Interest Rate Swaps nor in case of Currency Swaps d. Notional principal is exchanged only in the case of Interest Rate Swaps
Which of the following statements is TRUE? Select one: a. A firm should enter an industry...
Which of the following statements is TRUE? Select one: a. A firm should enter an industry if average costs are less than producer surplus. b. Fixed costs fall as firms produce more output, the so-called “spreading of the costs.” c. Entry and exit from an industry depend on the firm's market share. d. High profits in an industry give entrepreneurs an incentive to enter that industry. Clear my choice Question 32 Not yet answered Points out of 1 Flag question...
Question 12 Not yet answered Marked out of 1.00 Flag question Question text The defeat of...
Question 12 Not yet answered Marked out of 1.00 Flag question Question text The defeat of the Athenian Empire in the Peloponnesian War was the result of Select one: a. plague b. internal dissent within Athens c. Persian assistance to Sparta d. all of the above Question 13 Not yet answered Marked out of 1.00 Flag question Question text Plato's primacy philosophical concern was Select one: a. to explain change b. the doctrine of Ideas or Forms c. free will...
In a structured interview, which of the following is typically true? Select one: a. The interview...
In a structured interview, which of the following is typically true? Select one: a. The interview is specifically tailored to each applicant. b. Questions are drawn directly from the job analysis to ensure that each is relevant to the position. c. Structured interviews require less preparation than unstructured interviews. d. There are no follow-up questions. Question 42 Not yet answered Points out of 1.00 Flag question Question text Job____________ can be thought of as a combination of affect and thoughts...
________ client-centered therapy centers on the patient's goals and ways of solving problems. Select one: a....
________ client-centered therapy centers on the patient's goals and ways of solving problems. Select one: a. Rogers' b. Freud's c. Beck d. Ellis Question 2 Not yet answered Points out of 1.00 Flag question Question text A frequently prescribed drug therapy for managing one's depression is ____________. Select one: a. Adderall b. Lithium c. Prozac d. Thorazine Question 3 Not yet answered Points out of 1.00 Flag question Question text A major goal of modern inpatient psychiatric treatment is: Select...
7.Which of the following is NOT true? ________. Select one: a. environmental problems arise only due...
7.Which of the following is NOT true? ________. Select one: a. environmental problems arise only due to industrialization b. process of economic growth in agricultural developing countries does not lead to environmental problems. c. process of economic growth often leads to environmental degradation d. development is needed to improve well-being of populations in developing countries. e. environmental degradation can eventually retard economic growth an development Question 19 Not yet answered Marked out of 1.00 Flag question Question text Amartya Sen...
Which of the following statements is / are correct? 1. A general power of appointment may...
Which of the following statements is / are correct? 1. A general power of appointment may cause inclusion of the assets under the power in the gross estate of the power holder without having had the power holder exercise the power. 2. A medical durable power of attorney permits the powerholder to direct the withholding of artificial life sustaining methods or procedures. a. 1 only. b. 2 only. c. Both 1 and 2. d. Neither 1 nor 2.
Question 33 Not yet answered Marked out of 1.00 Flag question Question text Official development assistance...
Question 33 Not yet answered Marked out of 1.00 Flag question Question text Official development assistance targeting the rural sector ________. Select one: a. has become increasingly tied to performance indicators b. has stagnated in recent years c. continues to decline d. has continually increased in recent years e. none of the choices (above and/or below) Question 36 Not yet answered Marked out of 1.00 Flag question Question text Traditionally, most countries have developed by ________. Select one: a. liberalizing...
Living in an urban area is a factor associated with internet addiction: Select one: a. in...
Living in an urban area is a factor associated with internet addiction: Select one: a. in neither adolescents nor adults. b. in adults only. c. in adolescents only. d. in both adolescents and adults. Question 7 Question text Which of the following is the best example of a microblog per the taxonomy of online environments discussed throughout the course? Select one: a. google mail b. Instant messaging c. Twitter d. Facebook Question 8 Not yet answered Marked out of 0.50...