AOF Final Exam Review

An example of a liquid asset is a ...

What might a buyer do to get a low interest rate?

an auto mechanic is employed in a service industry

a saving option many employers offer is...

an asset account increases on __ of T account

in which kind of savings plan does the itnerest rate vary from month to month

a position in which a person receives training by working in a particular field is called...

whwen accountants record business transactions they use a system called

An advantage of a cooperative is that it...

The interest is tax-dedcutible on a...

A credit bureau is required to follow procedures to make sure that ...

compared with commercial banks,credit unions generally offer...

terms refers to the amount of revenue that remains after expenses and subrtracted from profits

an example of open end credit is a(n)..

When deciding how much to offer for a home, consider each of the following factors EXCEPT

when writing a check, include all of the folowing except

What should homeowners do when preparing to sell their home?

On a balance sheet the balance in accounts payable decreases when

a lender may ask a buyer to deposit money in an escrow account for paying

a cover letter gives potential employer

In a Chapter 13 bankruptcy, the debtor usually gets to...

the first step in balancing a checkbook is

The Consumer Credit Counseling Service offers to...

a home inspector is responsible for 

An example of current liability is..

an income statement has all of the following section except

credit card holders are known as  conveiences user when they..

one use of discretionary income is spending on

when you cosign a loan  you maybe responsible to make payments if the other person fails to

Your net worth goes up when you

A drawback of paying on credit is having...

an accounting period usually covers one

if you deposit $100  with an annual interest rate of 6% compounded monthly in 12 mths you will

a good budge has all the following characteristic EXCEPT...

which of the following financial services is best for saving money over a period of years?

the federal deposit insurance corporation insures depositors against losing their money in case

to earn high interest rates on a CD, you must accept all the folowing limitations except

the following are all advantages of owning a condominium except

an example of variable expense is ...

a bank pays the full amount of a mortgage to

Credit card allows you to...

Rent is often a wise choice for somone who wants to...

which of the five c's of credit require that a person's assets exceed his or her liabilities?

A  cash-flow statement gives you important feedback on your...

a disadvantage of renting...

a higher interest rate is usually the trade off for a

a condo is living arrangement where members of the organization do not actually own the buildig

What does a business owner or an accountant use to analyze transactions?

the total of your fixed and variable expenses is your cash flow

a disadvantage of using a safe deposit box for keeping financial deocuments is that it...

The total dollar amount you pay to use credit is the ...

The first step in planning a budget is...

an owner's claim to the assets of a business is called owner's

a borrower is a credit cardholder who does not pay off his or her balance in full each month

The following are all consumer credit protection laws EXCEPT the...