comp practice - spring 2011 - MULTIPLECHOICE. 1) 1 A)

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BUSA 3000 – COMPREHENSIVE EXAM REVIEW MULTIPLE CHOICE.  Choose the one alternative that best completes the statement or answers the question. 1) Which of the following statements applies to obtaining an undergraduate college degree? 1) _______ A) They are expensive and rarely pay off in increased earnings. B) It may be the single best investment you will ever make. C) Seventy percent (70%) of wealthy householders had earned a college degree. D) There is no relationship between personal wealth and earning a college degree. E) both B and C above 2) In Chapter One, Principle Three deals with the time value of money.  Why is this principle so important to financial planning? 2) _______ 3) What piece of advice might you give to someone for whom savings is a residual? 3) _______ 4) Suppose that Cheryl's only assets are an automobile worth $10,000 and a checking account with a $5,000 balance. Her only  liabilities are a student loan balance of $2,000 and a balance of $8,000 on her car loan. What is her net worth? 4) _______ 5) A(n) ________ is a book or notebook set aside to record expenditures. 5) _______ A) income statement B) ledger C) blue book D) cash budget E) none of the above 6) Suppose that you were trying to determine how much income was available for future monetary needs as well as for investment.  You would most likely use which of the following ratios? 6) _______
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