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Principles of business Flashcards | StudBud
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Principles of business
Principles of business
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Answers
1
What a potential buyer is willing to pay for a home.
offer
Equity
listing
2
Define morality?
Defining what is right and wrong for an individual
What is considered as correct within a society
Making the right decision' s
3
Public computers are safe for conducting online banking activities.
true
false
4
Why does a company sell stock?
To get rich quick
So they can buy boats
To raise money
5
s public Wifi safe for online banking apps?
no
yes
6
An estimate of the current value of the property.
Appraisal
Offer
Listing
Equity
7
Ethics & Law overlap. This is called…
Purple area
yellow area
Grey area
Blue area
8
How many categories are there of dischargeable debts?
2
19
83323
3
9
What is a good website for information about filing tax forms?
IRS.net
IRS.Gov
Wikipedia
Google.com
10
YOU CAN USE THE LAST PAY STUB FOR THE YEAR TO FILE YOUR TAXES
True
False
11
Which is not a normal length of a mortgage?
20 years
10 years
15 years
12
WHAT IS ADJUSTED GROSS INCOME?
YOUR TAXABLE INCOME AFTER DEDUCTIONS
YOUR TAXABLE INCOME BEFORE DEDUCTIONS
YOUR AFTER-TAX INCOME
13
How much does it cost to file the 1040EZ form with the IRS?
$40
Free!
$10
$800
14
Which is the most popular credit score?
Vantage Score
FICO Score
15
WHICH FORM TELLS YOUR EMPLOYER ALL THEY NEED TO KNOW ABOUT YOUR TAX-RELATED ALLOWANCE?
I-9
W-4
W-2
16
What is the highest marginal tax rate of all time charged to U.S. tax payers (year was 1952)?
92%
26%
55%
20%
17
All of the following are sources of individuals' moral standards except?
government
Family
religion
friends
18
Calculates interest only
Compound Interest
Simple Interest
19
What type of coverage is needed to repair your car if you hit a tree?
Collision
Liability
Health
20
What is identity theft?
Someone that looks like you
Someone that hack you
Someone stealing your information
21
WHICH OF THE FOLLOWING DOES NOT COUNT AS AN ITEMIZED DEDUCTION?
GAMBLING LOSSES
UTILITY COSTS (HEAT, WATER, ETC)
THEFT LOSSES
22
WHAT DOES IRS STAND FOR?
INTERNAL REVENUE SERVICE
INTERNATIONAL REVENUE SERVICE
INCOME REVENUE SERVICE
INCOME REGULATION SERVICE
23
How many different types of bankruptcy are there?
3
4
2
1
24
Calculates Interest + Principal
compound interest
simple interest
25
A business regarded as ethically good could be seen as having?
Wasted too much money
Good business practice
Good staff
26
If the IRS owes you a refund how do they pay you.
IOU
Cash
Check or Direct Deposit
27
Annuity is....
payments that have to be paid for the rest of your life
a series of payments paid at once
a series of equal payments paid at regular intervals
28
You can reduce your insurance premium by paying annually instead of monthly.
true
false
29
How to protect yourself?
Secure your mail
Safeguard personal information
Protect your passwords
All of the above
30
The price paid for insurance coverage.
claim
premium
rebate
31
Credit used by individuals for personal reasons (lower limit).
Personal Credit
Individual Credit
Consumer Credit
Commercial Credit
32
Which of these is NOT an example of ethics for the workplace?
harassment
reliability
commitment
Responsibility
33
A grace period is USUALLY _____ days...
34343453452435234623452134523452345
4
5
15
34
What is Inflation?
When items cost less.
When money is worth more.
Decrease in prices, increase in the purchasing value of $.
Increase in prices, fall in the purchasing value of $.
35
What is the average fee to file for bankruptcy?
4
1,700
33
500
36
What is simple interest
The worst interest you can use
its the same as compound interest
money you can eventually earn by investing some money
37
liquidation is the most common form of bankruptcy
false
True
38
Before filing bankruptcy what must you do?
Credit Counseling
Personal Counseling
Give up everything
39
FTC is a law that protects against unfair billing credit card practices
false
true
40
All lenders are required to offer the same interest rate on mortgages.
false
true
41
What is the 70/ 20/ 10 rule
70% Average, 20% Sector, 10% Individual
70% Housing & food, 20% Entertainment & fun, 10% Savings
70% Traditional, 20% Innovation, 10% Experimental
70% Work experience, 20% Feedback & relations, 10% Training
42
Finding ways to lower your chance of loss is
risk reduction
risk assumption
risk transfer
43
Is a Traditional IRA tied to the Stock Market
True
false
44
How many times should you check your credit rating?
once a year
once a month
once a day
45
Where is the NYSE
Upstate NY Los Angeles
Wall St, New York, NY
Upstate NY
46
Insurance that pays a portion of your salary if you are injured at home and can't work.
Disability
Homeowner's
Worker's Compensation
Health
47
An account where money is held in trust until it can be delivered to a designated party.
Savings
Closing
Escrow
Equity
48
Where do you find the amount of tax you owe after you determine your Adjusted Gross Income.
Call IRS
In your checkbook
On tax tables
49
The percent of the principal charged/earned as interest
Rate
principle
time
50
The FTC stands for
fill the cup
Federal Trade Convention
Federal Trade Commission
