Business Ownership and Registration + Personal Finance CH1

partners have an unequal share and liability in the business; they are responsible only for the amount they invested

A person or Organization that buys/uses goods or services

Most Americans avoid the use of credit when it comes to buying big -ticket items like a car or furniture for their house

Which of the following forms boards to act as governing bodies and is the most complicated form of business?

A Debt evidenced by a "note" which specifies the principal amount, Interest rate and date of repayment

Since you are a teenager, what you do now with money will have little effect on your financial future.   

7) When it comes to managing money, success is about   % knowledge and    % behavior.

Most Americans today are wealthy and will have financial security when they retire.

5) Which of the following is a consequence of spending more than you make?

Physical location of the business is a factor which should influence the type of ownership chosen.

Why was the use of credit uncommon prior to 1917?

Angel investors are wealthy individuals who seek high returns through private investments.

1) Which of the following best explains why students should learn about personal finance?

business which leases its trade name and operating system to another person

Which of the following is NOT a financing option suggested in the presentation?

15) True financial security is achieved when your money begins to generate an income -your money starts working for you.

Expensive houses and new cars are a true indication of wealth.

Is this personal finance curriculum worth it to you?

Capital is wealth in the form of money or property.

After 1920 consumer demands for big ticketed manufactured products began to rise

Which of the following is owned and operated by one individual?

Having debt keeps you from building wealth.

The granting of a loan and the creation of a debt; any form of deferred payment

Business owned and operated by one individual

Which of the following is the right or license to sell a company’s product or service at a designated location?

Which War ended the great depression?

A _________ is a legal agreement between two or more people and is the least common form of business.

You can become wealthy Americans in the future?

Learning the language of money is not that important because you will be able to depend on financial accountants

What percentage of Americans live paycheck to paycheck

When were lending laws loosened?

Patents are issued by state governments.

The New Deal programs was established to promote economic recovery and social reform during the 1930s

The knowledge and skillset necessary to be an informed consumer and manage finances effectively

All of the decisions and activities of an individual or family regarding their money, including spending

Which of the following is not a factor in becoming money smart?

What is the average credit card debt in america right now?

protections provided to authors of original work

An obligation of repayment owed by one party to a second party

A system by which goods and services are produced and distributed 

A fee paid to a borrower to the lender for the use of borrowed money

Partners share equal liability in the profits and losses of the business

A person or business that offers loans at extremely high interest rates is called a loan shark

___________ are words, symbols, names or devices used to specify goods and differentiate one good from others.

 Personal financial success is primarily the result of: