PBMF Spring 2022 Final Exam Review

Banks are prohibited from lending all of the money they receive from customers.

• True

• False

A cash flow statement examines changes in the value of your personal assets.

• True

• False

An accounts receivable record identifies the companies from which credit purchases were made and the status of each account.

• True

• False

In the U.S. workforce, white-collar workers are more important than blue-collar workers.

• True

• False

All people have basically the same financial planning goals regardless of which stage of life they are in.

• True

• False

A majority of employees in most businesses receive a weekly or monthly salary.

• True

• False

A W-2 is a summary of a worker’s earnings for the previous year and includes the amount deducted for taxes.

• True

• False

Human resources are different from almost every other resource needed by businesses.

• True

• False

The final step in the hiring process is to help the new employee get a good start in the company through an orientation process.

• True

• False

Financial planning generally reduces an individual’s financial uncertainties.

• True

• False