PBMF Chapter 16/17 Exam

You are buying an item for $750 with a down payment of $75. If you pay $26 per month, how many months will you pay?

• 25.96 months

• 28.85 months

• There is not enough information to answer this question

The amount paid by a borrower for the use of credit is called:

• Annual Percentage Rate

• Lending Fee

• Interest

This statement reports assets, liabilities, and owner's equity:

• Balance Sheet

• Cash Flow

• Income Statement

If Assets = $58,000 and Liabilities = $24,000, What is the Current Ratio?

• 2.42:1

• 41.38:1

• There is not enough information to answer this question

You can buy a TV for $1000 cash or you can make a $100 down payment and $35 payments for 36 months. What is the installment price?

• $1360

• $1260

• $360

If Net Income = $509,456 and Sales = $750,432, what is the Net Profit Ration?

• 3.78:1

• .68:1

• There is not enough information to answer this question

The process of setting financial goals and developing plans to reach them is called:

• Revenue

• Sales

• Financial Management

You are going to buy a computer. The cost of the computer is $1000 in cash. You can also make a $50 down payment and pay $75 for 24 months. What is the percent greater than cash?

• .85

• 85%

• 80%

This statement reports the revenue and expenses of a business:

• Balance Sheet

• Income Statement

• Cash Flow Statement

You are buying a car for $3500 with a down payment of $150. If you make payments for 18 months, how much are your monthly payments?

• $194.44

• $186.11

• There is not enough information to answer this question