Chapter 3 Test

Chapter 3 Test - Title: CHAPTER 3_TEST 1. For January,...

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Title: CHAPTER 3_TEST 1. For January, Bethany DeWeese had cash inflows of $4,200 and resulting in a Student Response Value Correct Answer A.balanced budget. 0% B.surplus of $550. 0% C.deficit of $550. 100% D.surplus of $8,950. 0% E.deficit of $4,750. 0% General Feedback: $4,200 - 4,750 = - month) Score: 4/4 Comments: 2. Which of the following would be considered a fixed expense? Student Response Value Correct Answer A.electric bill 0% B.cell phone bill on a plan without unlimited minutes 0% C.mortgage payment 100%
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Student Response Value Correct Answer D.gas bill 0% E.medical expenses 0% Score: 4/4 Comments: 3. Most income tax documents should be kept for _____ year(s). Student Response Value Correct Answer A.0 0% B.1 0% C.3 0% D.5 0% E.7 100% Score: 4/4 Comments: 4. Allen Arnold has determined that the amount of money he spen payment, car insurance payment, and cable bill totals $1,200 ea of expenses has Allen determined with this calculation? Student Response Value Correct Answer A.current liabilities 0% B.long Term liabilities 0% C.net worth 0%
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Student Response Value Correct Answer D.variable expenses 0% E.fixed expenses 100% Score: 0/4 Comments: 5. An investment account that increases from $1,000 to $1,005 in approximately __ percent annual interest. Student Response Value Correct Answer A.0.5% 0% B.5.0% 0% C.6.0% 100% D.10.0% 0% E.11.0% 0% General Feedback: $1,005 - 1,000 = $5; $60/$1000 = .06 or 6 Score: 0/4 Comments: 6. Amy Farmer has developed a budget that she follows each mon office supply store and purchased a spiral notebook. Each mont she wants to spend in the various categories. At the end of the m amount that she actually spent in each of these categories and c What type of budget has Amy created? Student Response Value Correct Answer A.mental budget 0%
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Response Value Correct Answer B.physical budget 0% C.written budget 100% D.computerized budget 0% E.none of the answers 0% Score: 4/4 Comments: 7. When preparing her monthly budget, Marge Kent has a total sp $4,600. Each month she pays $1,200 in rent, $60 for cable telev service, and $240 for her auto loan. What percentage of her bud fixed expenses? Student Response Value Correct Answer A.6 percent 0% B.12 percent 0% C.27 percent 0% D.33 percent 100% E.40 percent 0% General Feedback: $1,200 + 60 + 240 = $1,500/$4,600 = .33 Score: 4/4 Comments: 8. This month, Ken Grossman has cash inflows of $3,100 and cash
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Chapter 3 Test - Title: CHAPTER 3_TEST 1. For January,...

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