trade-offs, business and finance assignment help

Don't use plagiarized sources. Get Your Custom Essay on
Need an answer from similar question? You have just landed to the most confidential, trustful essay writing service to order the paper from.
Just from $13/Page
Order Now

There is no need to retype the questions. Number your answers to correspond
Create a word document that contains your numbered answers to the exam
Number your
answers to correspond with the exam. You will then submit the file through the Assignment Folder in our classroom. Please clearly mark your exam answers with your name.
Opportunity cost refers to
FORMTEXT       a. your personal values.
FORMTEXT       b. trade-offs when a decision is made.
FORMTEXT       c. current economic conditions.
FORMTEXT       d. commonly accepted financial goals.
The final step in the financial planning process is to
FORMTEXT       a. create a financial plan of action.
FORMTEXT       b. develop financial goals.
FORMTEXT       c. evaluate and revise your actions.
FORMTEXT       d. implement your financial plan.
Financial strategies refer to
FORMTEXT       a. the process of predicting your future financial situation.
FORMTEXT       b. courses of action to achieve financial goals.
FORMTEXT       c. resources an individual has available for investing.
FORMTEXT       d. ideas or principles that are considered correct, desirable, or important.
A(n) __________ is a specific plan for spending.
FORMTEXT       a. budget
FORMTEXT       b. balance sheet
FORMTEXT       c. income statement
FORMTEXT       d. bank statement
An example of a liquid asset would be
FORMTEXT       a. a home.
FORMTEXT       b. an automobile.
FORMTEXT       c. a checking account.
FORMTEXT       d. retirement account.
__________ represents amounts owed to others.
FORMTEXT       a. Current assets
FORMTEXT       b. Expenses
FORMTEXT       c. Mutual funds
FORMTEXT       d. Liabilities
An example of an adjustment to income is
FORMTEXT       a. passive income.
FORMTEXT       b. child care expenses.
FORMTEXT       c. IRA contributions.
FORMTEXT       d. commission and bonuses.
An exemption refers to
FORMTEXT       a. taxable income.
FORMTEXT       b. deductible expenses.
FORMTEXT       c. reduction from adjusted gross income.
FORMTEXT       d. amounts not subject to an IRS audit.
When an IRS agent visits your home or office to verify tax records, this is referred to as a(n)
FORMTEXT       a. office audit.
FORMTEXT       b. field audit.
FORMTEXT       c. correspondence audit.
FORMTEXT       d. research audit.
An example of tax-exempt income is
FORMTEXT       a. gambling winnings.
FORMTEXT       b. pension funds.
FORMTEXT       c. rental income.
FORMTEXT       d. interest from municipal bonds.