Would you rather have a savings account that offered simple interest, or an account that offered compound interest? Why? (3-6 sentences. 2.0 points) 4. If you were opening a savings account with compound interest, would you prefer an account that offers annual compounding, quarterly compounding, or daily compounding?
Answer: Total Assets - Total Debts Key Terms: Total assets - Total debts | Topic: Question: Which of the following would not be used to create a personal balance sheet? Answer: Slide presentation software Key Terms: Balance sheets | Topic: Question: Which of the following should you store in a safe deposit box? Answer: Your will Key Terms: Wills | Topic: Question: Which of the following would be considered a transaction account? Answer: checking account Key Terms: Transaction accounts | Topic: Question: Which of the following would be considered a savings alternative? Answer: certificate of deposit Key Terms: Certificate of deposit | Topic: Question: Which of the following is considered a cash outflow on your Personal Cash Flow Statement?
Accrued Vacation Pay- Current Liability B. Estimated Tax Payable- Current Liability C. Service warranties on appliance sales- Currently Liabilities D. Bank overdraft- Current Liability E. Personal injury claim pending- Footnote Disclosure. F. Unpaid bonus to officers- Current Liability G. Deposit received from customer to guarantee- Current Liability H. Sales tax payable- Current Liability I. Gift certificates sold to customers but not yet rendered- Current Liability. J.
What is debt services default? (0.5 points) When an individual, company or sovereign nation borrows money. there are usually legal obligations that have been set out in a debt contract. 4. What is the Better Business Bureau?
AC553 Quiz 1 1. A business bad debt is deductible for tax purposes as a(n): Your Answer: Short-term capital loss Long-term capital loss Ordinary business deduction None of the above 2. Which of the following items is not subject to federal income tax? Your Answer: Interest on U.S. Treasury bonds. Gambling winnings.
Bank statement is a printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account. c. Do you think it is best to keep track of finances using a check
2. How many months' worth of expenses do you think your financial reserve should include? Describe at least two reasons for this decision. (3-6 sentences. 2.0 points) You should have a fully funded emergency fund of 3-6 months of living expenses.
284 for $253.25, No. 862 for $190.71, No. 863 for $226.80, and No. 864 for $165.28. Included with the statement was a credit memorandum of $185 indicating the collection of a note receivable for Fetter Company by the bank on October 25.
a. $1,832.61 b. $1,829.08 c. $1,840.45 d. Other 6. An annuity will pay eight annual payments of $100, with the first payment to be received one year from now. If the interest rate is 12% per year, what is the present value of this annuity?
You can visit an ATM and use your debit card to automatically draw local currency; the conversion and associated fees will appear on your bank statement. Using a debit card can help you stay within your budget because the card takes money from your checking account. When you're out, you're out. Debit cards are small and easy to carry safely. Cons- Your debit card may not work in all ATM machines at your destination, so you’ll need to bring a backup debit or credit card.