If you do not budget for unexpected expenses in a given month, you will likely experience a(n). The course begins at 5 p.m. and goes until 9 p.m. on Monday nights. Determine basic and diluted earnings per share for Witter House in 2016. Question 12. If expenses for a month are greater than income, an increase in net worth will result. 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. A. different in various geographic areas. (3) Determining the indifference value of a particular parameter. 1. What is his cash inflow this month? 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? An example of a personal and employment document is a: A brokerage statement is an example of a(n) ____________ record. Which of the following does not protect your assets and/or income? 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. **a. 100% (8 ratings) Solution: The cash flow statement reports a person's . During the past month, Jennifer Sinnet had income of $3,500 and a decrease in net worth of. **Required** D plan for borrowing. Money received today is worth more than the same amount of money received in the future. Her expenses are $400 per month rent on her apartment, $100 per month for food, and $100 per month for utilities. Allison anticipates an additional car expense two months from now of $400 for new tires that she has not previously budgeted for. Have a. Which of the following would not be a factor in evaluating your current financial position? A(n) ________ is a forecast of your future cash inflows and outflows. B) Current income and payments. Which of the following. Which of the following statements is not true regarding education and financial position? Lynn and Robert are married and support Lynn's father who has no income, and Robert's mother, who has no income. What was the net effect on Fritz's net worth of these transactions? **c.** Received$669,200 cash in payment of accounts receivable. All of the following are types of nontaxable income except. Jerry has assets of $200,000, a net worth of $150,000, and an annual income of $100,000. Which of the following is the correct method for starting with gross income and computing taxable income? C) cash inflows and outflows. C) plan for borrowing. A cash flow statement reports a person's or a family's. Question and answer. Don wants to know how much he needs to save every year to amass $15,000 in five years at a 5% interest rate. ________ is the process of forecasting future expenses and savings. f(x)=x^3-3 x^2+2 Log in for more information. Prepare journal entries to record Liang's 2016 and 2017 summarized transactions and its year-end adjustments to record bad debts expense. How do we all benefit from the work of entrepreneurs? Determining taxes requires you to address all of the following topics except. Round to the nearest dollar. Which of the following is not subject to immediate taxation? Definitions 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 considered an asset for a family? A personal statement of cashflow measures cash inflows as well as cash outflows. The cash flow statement reports a person's or family's A) net worth. B) liabilities. $\hspace{15pt}1$. If the class meets 16 times, what is Josh's total opportunity cost for the class? 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. c) current income and payments. The payment items that should be budgeted first are. What is Jessie's current net worth? The act of determining how wealth will be distributed before or upon death is. 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. Determine basic and diluted earnings per share for Witter House in 2017. ***2017*** 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. The difference between an ordinary annuity and an annuity due is with an annuity due the payments occur at the ________ of each period. 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. Her deductions for federal and provincial taxes, CPP. 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. Michael's brother, Thomas, lives with Michael in his own home. Which of the following is not a liquid asset? B) expenses. $$ A stream of equal payments either received or paid at equal time intervals is a(n) ________. If you are a married taxpayer, you may use the ________ filing status. 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. D) If you have current assets of $20,000 and current liabilities of $10,000, then you. Why is it important to monitor your debt level? Which of the following is not a true statement about mutual funds? A. Then sketch the graph of the function. Liquid assets refers to. Using this find what is the standard deviation of the process time? 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. 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. How much interest will he earn on his investment during this time period? Mark your answer on a separate sheet of paper. (1) Determining how the worth of an investment changes with changes in one Which of the following is not a decision that you would probably encounter in managing your budget? A decrease in net worth would be the result of: B. expenses greater than income for a month. Which of the following it not an annuity? An individual retirement account is an example of a(n) ____________ asset. D) minimize financial risk., The personal cash flow statement measures A) the rate of cash flow. The personal cash flow statement measures A) cash inflows. Which of the following tables should he use? the earnings on savings. Which item below cannot be taken as an itemized deduction? How much money will she have saved by the time her son turns 18? Few countries have remained neutral for long periods of time. The Crown family has a difficult time staying on a budget. Given the following, what is the individual's net worth? Your decision about one component of your financial plan can affect all other components. He has $1,000 in current liabilities. D) All of these are part of the cash flow statement., 2. FICA taxes include two components, which consist of. 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. In 2012, she sells the stock for $35,000. Study with Quizlet and memorize flashcards containing terms like The primary goal of financial planning is to A) increasing earnings. C) plan for borrowing. 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. This answer has been confirmed as correct and helpful. 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. This month Jim has rent and utilities of $300 and he spent $200 on groceries and $100 on clothing. A) increase. B) decrease. D) value of investments. 8) Creating a cash flow statement requires that you determine. If Nancy adheres to this savings plan, how much would she have available each month for a car payment. C) cash used for expenses. Which one of the following is a liquid asset? Finance. 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? Which of the following is not a cash outflow? \text { Than } \mathbf{\$ 1} \text { MIlllon } D. tradeoffs associated with financial decisions. This year she also had medical, expenses of $2,000.00. a. User: Given the formula K = LMN, Weegy: President pro tempore conducts Senate meetings when the vice president is unavailable. If spending exceeds the amount of your income over a period of time, your best option is probably to. What filing status should Jerry claim on his tax return? 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. the payment of the note at maturity. Which of the following is not a true statement about mutual funds? Which of the following items is not impacted by the taxpayer's income level? Thomas has a full-time job and pays his brother for rent and utilities. B) liabilities. \text { Shareholders lost money } & 4 & 3 & 7\\ Corporate _______ refer(s) to a corporation's responsibility to be a positive force in the community. 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. C) plan for borrowing. Which of the following is not an acceptable method of reducing your tax bill? If you own stock that has increased in price, it would be best to sell it after you have owned it for at least. Jim has $1,000 income from his job and $200 stock dividend income this month. B) plan for borrowing. A worker making $20 per hour decides to take unpaid leave from work to attend a graduation ceremony. B current income and payments. Therefore, he has ________. If a stock was purchased in January 2009 for $1,000 and sold in December 2010 for $3,000, a ________ of $2,000 results. 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. Byron is investigating a mutual fund that claims that $1,000 today will be worth $5,000 in five years. 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. Its income tax rate is 40%. ________ management involves decisions regarding how much money to retain in a liquid form and how to allocate funds among short-term investment instruments. Which cash inflow will probably be discontinued after retirement? The shares vest four years later. $$ 120 seconds. answer choices. This month Jim has rent and utilities of $300 and he spent $300 on groceries and $200 on clothing. C value of investments. Corporations issue stocks for all of the following reasons except. Most Canadians have an adequate savings for emergencies. 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. The wages that you forego when you leave work early to attend class is an example of a(n) ________. Which of the following actions will not increase your net worth? 7) The cash flow statement reports a person's or family's. A) net worth. plan for spending. C) cash used for expenses. A personal cash flow statement is usually the starting point for an individual's or family's. budget. Most investments are subject to ________, which is the uncertainty surrounding their potential return. Bill's annual savings rate is 9%. The cash flow statement reports a person's or family's A) net worth. B. changing economic conditions that affect a person's cost of living. E. avoiding the use of consumer credit., A home file should be used for: A. storing . 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. Allison expects her monthly cash inflow after taxes to be $3,000. Witter House is a calendar-year firm with 300 million common shares outstanding throughout 2016 and 2017. When you own a house as a primary residence. Debts that are to be paid off within a year are called, Long term liabilities include all of the following except. A. current income and payments B. net worth C. plan for borrowing D. value of investments. A budget will not do which of the following? C) maximize wealth. Which of the following tables should she use? How many exemptions can he claim on his tax return? D. tradeoffs associated with financial decisions. \begin{array}{|lccr|} C) maximize wealth. Cash flows are affected by financial planning decisions. B. Josh has decided to take a course at the local community college that could help him get a promotion at work. 2. The cash flow statement reports a person's or family's. shepherd. This month he also has. 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 financial documents would most likely be stored in a home file? Which item on his. The accumulation of interest over time is called. maximize wealth. 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. Payments that do not vary from month to month are ____________ expenses. (The company uses the perpetual inventory system and it applies the allowance method for its accounts receivable. Mr. Berkey invests $10,000 in a money market account at his local bank. 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. Nancy also has student loans on which she makes monthly payments of $200. Everything else being equal, the ________ the interest rate, the ________ the final accumulation of money. 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. Creating a cash flow statement requires that you determine. The primary goal of financial planning is to. The concept of time value of money is important to financial decision making because. If your net cash inflows exceed your net cash outflows, you can increase your net worth by investing the difference in more ________. B) liabilities. Leveraged investing in common shares is expected to increase your net worth. The cash flow statement reports a person's or family's. current income & payments. B. actual expenses are greater than planned expenses. $5,950.00 is allowed. 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. With a discount rate of 12%, what is the present value of your winnings? 7) The cash flow statement reports a person's or family's. B) current income and payments. Cash flows are affected by financial planning decisions. the amount of insurance coverage a person has. C) stay the same. Thomson Home Furnishings Co. discounts the note at $7\%$\ \end{array} & \begin{array}{c} Which of the following would be considered a longterm liability? She also has the following, Allison anticipates an additional car expense two months from now of $400 for new tires that. The increased mortgage payment was in effect the remainder of the year. Which of the following is not taxable for income tax purposes? **d.** In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable will be uncollectible. Question: Question 8 The cash flow statement reports a person's or family's A 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 process of obtaining ________ values is referred to as discounting. ________ are specific expenses instead of a standard amount that reduce adjusted gross income. In 2012, self-employed individuals pay FICA taxes at a rate of. ) If Kim's current debt ratio is 45%, this means that ________ of Kim's assets are purchased. B) cash outflows. The process of obtaining ________ values is referred to as compounding. citizenship bylaws mission statements hierarchy, Which Invention radically changed textile manufacturing? 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. Yogi Berra Jr. has agreed to play for the New York Mets for $4 million per year for the next 10 years. 3) Creating a cash flow statement requires that you determine. C. Find a place to live with a lower rent. (c) Risk analysis B) cash outflows only. \end{array} By establishing high and unrealistic financial goals, you will probably, Goals with a time frame of between one and five years are classified as. **h.** In adjusting the accounts on December 31, the company estimated that 1.5% of accounts receivable will be uncollectible. Which of the following is not an appropriate approach to solving the problem of an annual budget deficit? TRUE. Evidence exists that a person's choice of employment influences his or her lifestyle. A. Be sure to show all key features such as intercepts, asymptotes, high and low points, points of inflection, cusps, and vertical tangents. The time value of money can be applied to all of the following except. 9) Which of the following is not a cash inflow? B) current income and payments. Which of the following is correct? B) current income and payments. 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. A budget is a record of how a person or family has spent their money. Personal records current budget, cheque book(s) and bank statements. D) market value of investments. A. subtracting total liabilities from total assets. B) maximize cash inflows. Which of the following would not be considered a very good investment? U-Build It Warehouse issues a $45$-day note for $\$800,000$ to Thomson Home Furnishings Co. for merchandise inventory. Transcribed image text: The cash flow statement reports a person's or family's A net worth. (2) Determining probabilistic statements about the worth of an investment based (D) net worth. C. Creating a cash flow statement requires that you determine A) assets. 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