Foundations of Investing & Finance | Foundations of Business Administration Final Exam Study Guide Part 1 December 2023

Which of the following is an itemized summary of the expected income and expenses for a defined period of time?

• Net worth

• Balance sheet

• Budget

• Equity

Which of the following is an expense which stays relatively the same from month to month, such as a car payment or rent?

• Fixed expense

• Variable expense

• Estimated expense

• Equity expenses

Which of the following money personalities is described as a person who enjoys spending their money either on themselves or others rather than saving it?

• Saver

• Spender

• Security seeker

• Flyer

Which of the following is considered an earned income?

• Interests

• Dividends

• Bonuses

• Rents

Which of the following refers to a range of incomes subject to a certain income tax rate?

• Tax brackets

• Tax breaks

• Tax exemption

• Tax withhold

Which of the following forms report an employee's annual wages and the amount of taxes withheld from his or her paycheck?

• W-2

• W-4

• 1040

• 1040-SR

Which of the following is a form used by an individual's employer to withhold the proper amount of federal income tax from the employee's paycheck?

• W-2

• W-4

• 1040-SR

• 1040

Credit allows for purchases without cash.

• True

• False

Lenders do not check a person's likelihood to repay before accepting a credit agreement.

• True

• False

How long can a history of bankruptcy follow a company or individual?

• Five years

• Ten years

• Twenty years

• Thirty years