D - D Student:

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: D Student: _______________________________________________________________________________________ True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False 1. The value of education is often exaggerated when searching for a good job. 2. The average lifetime income of someone with an undergraduate degree is about $1.6 million higher than for someone with only a high school diploma. 3. The U.S. government provides several types of financial incentives to encourage people to attend college. 4. About half of the U.S. population accumulates enough money to afford a comfortable retirement. 5. The first step in getting control of your finances is to prepare a budget. 6. Over 35% of U.S. households do not have a retirement account. 7. Your personal balance sheet will reflect the same fundamental accounting equation as the balance sheet for a business: assets = liabilities + owners' equity. 8. On your personal balance sheet, your assets should include anything of value that you own. 9. If your personal liabilities exceed your assets, your are on the road to financial security. 10. Your computer and car should both be listed on the asset side of your personal balance sheet. 11. Credit-card debt represents an asset on a consumer's balance sheet. 12. A major source of revenue on your personal income statement is your salary or wages from your job. 13. One step toward the goal of taking control of your finances is to keep track of all your expenses. 14. If you find yourself regularly running out of cash, your only real option is to focus your attention on finding ways to increase your income. 15. Once you have evaluated your current financial situation and know your sources of income and expenses, you have reached the point where you can establish a personal budget. 16. One way to motivate yourself to start saving is to visualize your goals and think about how much money it will take to achieve them. 17. Managing the finances of a household is similar to managing the finances of a small business. 18. With respect to personal financial planning, the first thing to do with any extra money you have is to start a savings plan. True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False 19. In order to get in the habit of saving, personal financial advisors suggest that you save first and wait to pay off any debts until you've accumulated at least $10,000 in cash, savings accounts, CDs and other liquid assets....
View Full Document

This note was uploaded on 10/17/2011 for the course BUS BUS300 taught by Professor Na during the Spring '11 term at American River.

Page1 / 61

D - D Student:

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online