Exam 3: Financial Statements,tools,and Budgets

NARRBEGIN: Figure 3-1 Figure 3-1 Maria and John Sanchez have just completed their third annual set of financial statements.They met in a personal finance class while in college and still remember their instructor's advice regarding the importance of knowing their financial condition and progress.Even before they got married,they decided that each year on February 2 (Groundhog Day)they would update their cash-flow statement and their balance sheet. The following information is taken from their latest financial statements: -A long-term goal is one that is projected to be achieved beyond how much time?

(Multiple Choice)

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Question 21

The Ronselli family has total assets of $460,000 and total liabilities of $186,000.Included in their total assets are monetary assets of $47,000 and investment assets of $253,000.What is the Ronsellis' investment assets-to-total assets ratio?

(Multiple Choice)

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Question 22

NARRBEGIN: Figure 3-1 Figure 3-1 Maria and John Sanchez have just completed their third annual set of financial statements.They met in a personal finance class while in college and still remember their instructor's advice regarding the importance of knowing their financial condition and progress.Even before they got married,they decided that each year on February 2 (Groundhog Day)they would update their cash-flow statement and their balance sheet. The following information is taken from their latest financial statements: -A short-term goal is one that is projected to be achieved within how much time?

(Multiple Choice)

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Question 23

The advantages of having organized financial records include

(Multiple Choice)

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Question 24

A net surplus in your monthly budget cannot be carried forward to the next month.

(True/False)

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Question 25

A surplus on your cash-flow statement indicates that you are

(Multiple Choice)

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Question 26

A surplus demonstrates that you are managing your financial resources successfully and do not have to use savings or borrow to make financial ends meet.

(True/False)

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Question 27

A person is insolvent when he or she doesn't have enough current income to pay all of his or her current bills.

(True/False)

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Question 28

Which of the following is (are)characteristic of a safe-deposit box?

(Multiple Choice)

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Question 29

Financial planning focuses primarily on spending wisely.

(True/False)

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Question 30

A low asset-to-debt ratio is a positive indicator of financial well-being.

(True/False)

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Question 31

Discretionary income is used to pay for things like

(Multiple Choice)

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Question 32

The three broad areas of financial plans include financial plans for

(Multiple Choice)

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Question 33

Short-term liabilities are obligations to be paid off within one year.

(True/False)

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Question 34

Vincent and Paula Farelli have decided to pay off their $875 MasterCard debt by taking $875 out of their money market savings account.This transaction will

(Multiple Choice)

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Question 35

A family with two income earners will always need a greater amount of cash reserves than a family with one earner.

(True/False)

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Question 36

Financial plans should include objectives and goals in which of the following areas?

(Multiple Choice)

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Question 37

A cash-flow statement summarizes transactions that have taken place over a specific period of time.

(True/False)

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Question 38

The primary purpose of setting long-term financial goals is to help

(Multiple Choice)

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Question 39

A debt-payments-to-disposable-income ratio with monthly nonmortgage debt repayments of $470 and a disposable income of $3,615 would be ____ percent.

(Multiple Choice)

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Question 40

Showing 21 - 40 of 151

The Ronselli family has total assets of $460,000 and total liabilities of $186,000.Included in their total assets are monetary assets of $47,000 and investment assets of $253,000.What is the Ronsellis' investment assets-to-total assets ratio?

The advantages of having organized financial records include

A net surplus in your monthly budget cannot be carried forward to the next month.

A surplus on your cash-flow statement indicates that you are

A surplus demonstrates that you are managing your financial resources successfully and do not have to use savings or borrow to make financial ends meet.

A person is insolvent when he or she doesn't have enough current income to pay all of his or her current bills.

Which of the following is (are)characteristic of a safe-deposit box?

Financial planning focuses primarily on spending wisely.

A low asset-to-debt ratio is a positive indicator of financial well-being.

Discretionary income is used to pay for things like

The three broad areas of financial plans include financial plans for

Short-term liabilities are obligations to be paid off within one year.

Vincent and Paula Farelli have decided to pay off their $875 MasterCard debt by taking $875 out of their money market savings account.This transaction will

A family with two income earners will always need a greater amount of cash reserves than a family with one earner.

Financial plans should include objectives and goals in which of the following areas?

A cash-flow statement summarizes transactions that have taken place over a specific period of time.

The primary purpose of setting long-term financial goals is to help

A debt-payments-to-disposable-income ratio with monthly nonmortgage debt repayments of $470 and a disposable income of $3,615 would be ____ percent.

Understanding Personal Finance

Career Planning

Managing Income Taxes

Managing Checking and Savings Accounts

Building and Maintaining Good Credit

Credit Cards and Consumer Loans

Vehicles and Other Major Purchases

Obtaining Affordable Housing

Managing Property and Liability Risk

Managing Health Expenses

Life Insurance Planning

Investment Fundamentals

Investing in Stocks and Bonds

Investing Through Mutual Funds

Real Estate and High-Risk Investments

Retirement Planning

Filters

Exam 3: Financial Statements,tools,and Budgets

The Ronselli family has total assets of $460,000 and total liabilities of $186,000.Included in their total assets are monetary assets of $47,000 and investment assets of $253,000.What is the Ronsellis' investment assets-to-total assets ratio?​

The advantages of having organized financial records include​

A net surplus in your monthly budget cannot be carried forward to the next month.

A surplus on your cash-flow statement indicates that you are​

A surplus demonstrates that you are managing your financial resources successfully and do not have to use savings or borrow to make financial ends meet.

A person is insolvent when he or she doesn't have enough current income to pay all of his or her current bills.

Which of the following is (are)characteristic of a safe-deposit box?

Financial planning focuses primarily on spending wisely.

A low asset-to-debt ratio is a positive indicator of financial well-being.

Discretionary income is used to pay for things like​

The three broad areas of financial plans include financial plans for​

Short-term liabilities are obligations to be paid off within one year.

Vincent and Paula Farelli have decided to pay off their $875 MasterCard debt by taking $875 out of their money market savings account.This transaction will​

A family with two income earners will always need a greater amount of cash reserves than a family with one earner.

Financial plans should include objectives and goals in which of the following areas?​

A cash-flow statement summarizes transactions that have taken place over a specific period of time.

The primary purpose of setting long-term financial goals is to help​

A debt-payments-to-disposable-income ratio with monthly nonmortgage debt repayments of $470 and a disposable income of $3,615 would be ____ percent.

Understanding Personal Finance

Career Planning

Managing Income Taxes

Managing Checking and Savings Accounts

Building and Maintaining Good Credit

Credit Cards and Consumer Loans

Vehicles and Other Major Purchases

Obtaining Affordable Housing

Managing Property and Liability Risk

Managing Health Expenses

Life Insurance Planning

Investment Fundamentals

Investing in Stocks and Bonds

Investing Through Mutual Funds

Real Estate and High-Risk Investments

Retirement Planning

Filters

The Ronselli family has total assets of $460,000 and total liabilities of $186,000.Included in their total assets are monetary assets of $47,000 and investment assets of $253,000.What is the Ronsellis' investment assets-to-total assets ratio?

The advantages of having organized financial records include

A surplus on your cash-flow statement indicates that you are

Discretionary income is used to pay for things like

The three broad areas of financial plans include financial plans for

Vincent and Paula Farelli have decided to pay off their $875 MasterCard debt by taking $875 out of their money market savings account.This transaction will

Financial plans should include objectives and goals in which of the following areas?

The primary purpose of setting long-term financial goals is to help