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.