Question 1

Your total cash income is $80,000.You pay $8,000 in taxes and $60,000 in other expenses.Your savings ratio is

Accepted Answer

A)  10.0% 
B)  14.3% 
C)  15.0%. 
D)  16.7%. 
E)  17.5%. 
A)  10.0% 
B)  14.3% 
C)  15.0%. 
D)  16.7%. 
E)  17.5%.

Question 2

The income statement is specific to

Accepted Answer

A)  one point in time. 
B)  a specific period of time. 
C)  last year. 
D)  next year. 
E)  none of these. 
A)  one point in time. 
B)  a specific period of time. 
C)  last year. 
D)  next year. 
E)  none of these.

Question 3

A savings ratio expresses the

Accepted Answer

A)  percentage of gross income saved. 
B)  ability to cover immediate debt when there is an interruption in income. 
C)  percentage of after-tax income saved. 
D)  percentage of tax-deferred income earned annually. 
E)  none of the above. 
A)  percentage of gross income saved. 
B)  ability to cover immediate debt when there is an interruption in income. 
C)  percentage of after-tax income saved. 
D)  percentage of tax-deferred income earned annually. 
E)  none of the above.

Question 4

When preparing a cash budget,estimating expenses using actual expenses from previous years and by tracking current expenses makes the task easier.

Accepted Answer

A) True 
 B)False

Your total cash income is $80,000.You pay $8,000 in taxes and $60,000 in other expenses.Your savings ratio is

The income statement is specific to

A savings ratio expresses the

When preparing a cash budget,estimating expenses using actual expenses from previous years and by tracking current expenses makes the task easier.

Understanding the Financial Planning Process

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

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Exam 2: Using Financial Statements and Budgets

Your total cash income is $80,000.You pay $8,000 in taxes and $60,000 in other expenses.Your savings ratio is

The income statement is specific to

A savings ratio expresses the

When preparing a cash budget,estimating expenses using actual expenses from previous years and by tracking current expenses makes the task easier.

Understanding the Financial Planning Process

Preparing Your Taxes

Managing Your Cash and Savings

Making Automobile and Housing Decisions

Using Credit

Using Consumer Loans

Insuring Your Life

Insuring Your Health

Protecting Your Property

Investment Planning

Investing in Stocks and Bonds

Investing in Mutual Funds

Planning for Retirement

Preserving Your Estate

Filters