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Personal Finance Chapter 2 Quiz.docx - Personal Finance...

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Personal Finance – Chapter 2 Quiz Attempt 1 Written: Mar 25, 2018 12:44 PM - Mar 25, 2018 1:57 PM Submission View Your quiz has been submitted successfully. ection tion 1 1 / 1 point Assets that you purchase for the purpose of accumulating wealth to satisfy your financial goals are called Question options: A) intangible assets. B) monetary assets. C) investment assets. D) all of the above are correct. stio 1 / poi Liabilities are best described as Question options: A) monetary items of value that you own. B) assets that depreciate over time. C) financial debts and obligations that you owe. D) intangible obligations. E) your net worth. 1 / poi ~ 1 ~
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Personal Finance – Chapter 2 Quiz The common thread among investment assets is Question options: A) they are purchased for the purpose of generating wealth. B) they must be easily turned into cash with little or no loss in value. C) they provide the necessary liquidity in case of an emergency. D) they are purchased for one's personal use, like a vehicle or residence. stio 1 / poi One of the following items would not go on a balance sheet. Which one is it? Question options: A) credit card balance owed B) current balances owed on your utility bills C) automobile loan balance D) mortgage payment paid E) student loan balance 1 / poi When including an asset like a car on your balance sheet Question options: A) list its value as given in a blue book or site like www.edmunds.com. ~ 2 ~
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Personal Finance – Chapter 2 Quiz B) list the amount it would cost to purchase a new model of this vehicle. C) list the original purchase price of the vehicle. D) none of the above stio 1 / poi A physical asset, such as furniture or a car, is called a(n) ________.
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