Devry busn380 quiz 1 latest 2015 december answer

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    Question
    (TCO 1) When a person faces a trade-off and must give up something by making a choice this is referred to as
    taking out a loan.
    opportunity cost.
    the evaluation of alternatives.
    a decision-making process.
    a dilemma.
    Question 2. Question :
    (TCO 1) _____ is the ability to convert assets and financial resources into usable cash relatively easily.
    Bankruptcy
    Solvency
    Investing
    Opportunity cost
    Liquidity
    Question 3. Question :
    (TCO 1) The Federal Reserve has the responsibility to
    monitor illegal business activities.
    approve spending by Congress.
    set federal income tax rates.
    maintain an adequate supply of money.
    maintain a balanced budget for the federal government.
    Question 4. Question :
    (TCO 1) The _____ refers to stages that an individual goes through based on age financial needs and family situation.
    financial planning process
    financial cycle
    adult life cycle
    personal economic cycle
    tax planning process
    Question 5. Question :
    (TCO 1) A family spends $40000 on living expenses. With an annual inflation rate of 3% they can expect to spend approximately _____ in 4 years.
    $45000
    $41200
    $42000
    $43700
    $46000
    Question 6. Question :
    (TCO 1) Higher employment levels can be attributed to lower consumer prices.
    reduced employment levels.
    lower interest rates.
    higher employment levels.
    increased consumer spending.
    Question 7. Question :
    (TCO 1) The time value of money refers to
    personal opportunity costs such as time lost on an activity.
    financial decisions that require borrowing funds from a financial institution.
    increases in an amount of money due to earned interest.
    the impact of inflation upon the dollar.
    changing demographic trends in our society.
    Question 8. Question :
    (TCO 1) If a person wants to determine the current value of a desired amount for the future the following computation would be used.
    Simple interest
    Present value of a single amount
    Future value of a series of deposits
    Future value of a single amount
    Present value of a series of deposits
    Question 9. Question :
    (TCO 1) Which goal below would be the easiest to implement and measure in terms of accomplishment?
    Reduce our debt payments.
    Save $100 a month to create a $4000 emergency fund.
    Save funds for an annual vacation.
    Invest $2000 a year for retirement.
    Question 10. Question :
    (TCO 1) If John Smith is making plans to make holiday purchases at the end of the year he is setting a(n) _____ goal.
    intermediate
    long-term
    short-term
    intangible
    durable
    Question 11. Question :
    (TCO 1) In order to evaluate present value scenarios _____ is/are needed.
    multiplication
    compounding
    simple interest calculations
    discounting
    payment information
    Question 12. Question :
    (TCO 1) A commitment to a profession that requires continued training and offers a clear path for occupational growth is a(n)
    apprenticeship.
    internship
    employment.
    cooperative employment experience.
    career.
    Question 13. Question :
    (TCO 1) Personal financial statements would include
    budget and credit card statements.
    income tax forms and a cash flow statement.
    a checkbook and a budget.
    a balance sheet and a cash flow statement.
    a bank statement and a savings passbook.
    Question 14. Question :
    (TCO 1) A _____ rsum would best be used by an employee who has worked in many fields and has a variety of skills in a variety of work-related categories.
    targeted
    goal-oriented
    chronological
    functional
    career change
    Question 15. Question :
    (TCO 1) A _____ rsum is designed to obtain a specific job.
    functional
    chronological
    goal-oriented
    targeted
    data
    Question 16. Question :
    (TCO 1) A lack of _____ refers to a lack of willingness to accept a variety of employment positions and is a common career planning mistake.
    common sense
    flexibility
    training
    communication
    perseverance
    Question 17. Question :
    (TCO 1) A family with $66000 in assets and $52000 of liabilities would have a net worth of
    $66000.
    $52000.
    $118000.
    $14000.
    $41000.
    Question 18. Question :
    (TCO 1) Personal balance sheets can be used to analyze
    future income and expenses.
    the net worth of an organization.
    the cash flow of an individual or a family.
    debt payment activities.
    what an individual or family owes and owns.
    Question 19. Question :
    (TCO 1) Solvency can be assessed through the analysis of the following financial document.
    Cash flow statement
    Debt consolidation statement
    Personal income statement
    Credit report
    The balance sheet
    Question 20. Question :
    (TCO 1) If a person has a payment that does not vary from month to month then this type of payment is _____.
    semivariable
    current
    variable
    fixed
    budgeted

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