Spring Semester Final 2023

Marshall's employer pays him for work that he performs on the job. This is an example of

• Passive revenue

• earned income

• capital gains

• transfer payments

The arrangement by which businesses or individuals can purchase now and pay later is known as

• capacity

• credit

• interest

• collateral

Which of the following is a strategy of help with tracking expenses

• estimate fixed expenses

• only use cash payments

• spend as little as possible

• keep receipts

To be able to pay for unexpected car repairs and/or to replace broken home appliances, it is important to

• eliminate entertainment expenses

• make long-term investments

• save money for emergency situations

• use tax returns to purchase treasury bonds

Which of the following is a reason to invest your money?

• investing can help you reach your long-term financial goals

• you will receive a lower rate of return than from saving

• when you invest, you earn a lot of money in a very short period of time

• There is no risk involved in investing in the stock market

Viola wants to go on a vacation sometime in the next year; how should she generate the money she needs for the trip?

• invest her money in the stock market

• put her money in a savings account

• take some money from her emergency fund

• put the expenses for the trip on a credit card

You have to have a college degree to be entrepreneur.

• true

• false

Melissa writes checks to pay for her rent, utilities, and groceries and she keeps a record of all these transactions in her check register. Keeping an accurate check register helps Melissa...

• understand the checking account's restrictions and fees.

• determine when she needs to add funds to her savings account

• track the amount of money she has spent

• decide when to order new checks

What is a tip to aid in paying bills on time?

• Notify businesses to let them know what time extensions will be needed

• Pay bills as soon as they arrive

• require businesses to use direct deposit into your account

• Set aside two times a month to pay bills.

Which of the following types of insurance do businesses frequently offer as part of their employee benefit plan.

• health

• automobile

• property

• liability