Unit 1 Test

Present value calculations involve:

Credit bureaus obtain data from which of the following?

Opportunity cost refers to:

Installment cash credit is a:

Which of the following goods or services is subject to an excise tax?

Which of the following is organized as a corporation and owned by stockholders?

For 2021, single people received a standard deduction of:

Most of the information in your credit file may be reported for only ___ years.

What kind of audit requires a taxpayer to visit an IRS office to clarify some aspect of his or her tax return?

Which of the following is included in gross income?

Which component of financial planning deals with buying stocks, real estate, and mututal funds?

__ is defined as a committment to a profession that requires continued training.

Which of the following would be considered a fixed expense?

What type of tax is imposed on the value of an individuals property at the time of his or her death?

An example of closed-end credit is ____.

The storage of funds for future use is a purpose of _____, which includes savings accounts and certificates of deposits.

Most of the information in your credit file may be reported for only how many years?

Career choices require periodic evaluation of trade-offs related to which of the following?

In Chapter 7 bankruptcy, the debtor:

Itemized deductions are expenses that a taxpayer is allowed to deduct from adjusted gross income.

The rule of 78s formula dictates that you pay less interest at the beginning of a loan.

Money received in the form of dividends or interest is commonly called:

_____ is a benefit on which you pay no income taxes.

A personal cash flow statement presents ___.

Liquid assets refer to:

The best way to maintain your credit standing is to:

Which of is true in Series EE U.S. Savings Bonds?

A tax ___ is an amount substracted directly from the amount of taxes owed.

The time value of money refers to:

Evalutating risk associated with making most financial decisions is difficult because of what?