Ch 3 learning objective 3 question 12 1 point

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Ch. 3 - Learning Objective 3 Question 12: (1 Point) Jocelyne earned $1,000 less income than she expected over the last year. Gathering up her bills, she noted that her vacation costs exceeded her plan by $500 and car maintenance bills were $200 versus the $500 she had expected. What was Jocelyne’s budget forecasting error?-$2,200 -$1,800 -$1,200 +$300 Ch. 3 - Learning Objective 4 Question 13: (1 Point) Given the following, what is the level of total assets? Item Investment account 250,000 Primary residence 625,000 Mortgage 400,000 Bank account $5,500 Gross Income $82,000 Household furnishings $40,000 Total expenses $49,000 $5,500 $553,500 $520,500 $920,500 $
Ch. 3 - Learning Objective 5 Question 14: (1 Point) Given the following, what is the current ratio? Item Value Home $500,000 Mortgage $300,000 Stock portfolio $15,000 Bank accounts $10,000 Credit card balances $5,000 Automobile $30,000 Automobile loan $20,000 5.0 3.0 2.0 0.5 Question 15: Given the following, what is the debt ratio?
Chapter 4
Ch. 4 - Learning Objective 1 & 2 Question 16: (1 Point) Which is a capital asset? I. Commercial land II. Apartment building III. Short-term government debt
Ch. 4 - Learning Objective 3 Which type of income or benefit is exempt from personal income tax?
Question 18: (1 Point) Total income Net income Taxable income Net federal tax payable
Which is used by the government to determine eligibility for the Federal GST/HST credit payment?
Question 19: John earns $50,000 and is subject to $7,700 in federal income taxes. Should he earn $1,000 in additional income, his federal tax bill would rise by $205. What would be his average tax rate on $51,000?
(1 Point) 15.5% 18.0% 20.5% Ch. 4 - Learning Objectives 5 Question 20: (1 Point) Total payments on the loan were $2,308, of which $1,768 represented the repayment of the loan principal. How much can Gerry claim as a tax credit with respect to this student loan?Gerry’s student loan balance was $10,000 at the beginning of the year.

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