test #21-40
21. What is the first step in effective money management?
A)Organizing your personal financial documents.
B)Determine how much money you will have now and in the future.
C)Plan and measure your financial progress
D)Make effective decisions about how to save money.
22. What is one of the disadvantages of keeping financial documents in home files?
A)Cardboard boxes are expensive.
B)It is hard to remember where you keep the file.
C)Your documents may not be protected against fire, water, or theft.
D)It takes a lot of time to organize your files.
23. Any items of value that an individual or company owns, including cash, property, personal possessions, and investments, are called _____.
A)direct materials
B)deductions
C)exclusions
D)assets
24. What is the first step in creating a personal balance sheet?
A)Determining your assets.
B)Paying off your credit cards.
C)Cashing your paycheck.
D)Checking your bank statement.
25. An example of a long-term liability is a _____.
A)telephone bill
B)car repair bill
C)grocery bill
D)car loan
26. The calculation for determining your net worth is _____.
A)liabilities + equity
B)assets - liabilities
C)assets × liabilities
D)liabilities ÷ assets
27. _____ is a financial state that occurs if liabilities are greater than assets.
A)bankruptcy
B)diversification
C)insolvency
D)fraudulence
28. An example of a fixed expense is _____.
A)utility bills
B)mortgage payments
C)medical costs
D)grocery costs
29. The _____ is a measure of the changes in prices for commonly purchased goods and services in the United States.
A)consumer price index
B)annual percentage yield
C)adjusted gross income
D)break-even point
30. Paying yourself first is an example of _____.
A)revising your goals
B)making sure you have money to spend on impulse purchases
C)creating a budget
D)ways to increase your savings
31. It would be beneficial to do comparison shopping for which of the following items?
A)toothbrush
B)DVD
C)computer
D)pencils
32. All of the following are steps to successful shopping EXCEPT _____.
A)signing up for a new credit card
B)identifying your needs
C)gathering information
D)becoming aware of the marketplace
33. Purchasing items on the spur of the moment is called _____.
A)consuming
B)impulse buying
C)deducting
D)fraud
34. One of the disadvantages of direct selling is _____.
A)convenience
B)difficulty in returning the purchase
C)24-hour access
D)not having to leave home
35. The calculation for determining unit price is _____.
A)unit of measure × 2
B)total price ? sale price
C)total price + unit of measure
D)total price ÷ unit of measure
36. A written guarantee from the manufacturer or distributor that states the conditions under which the product can be returned, replaced, or repaired is called a(n) ______.
A)guarantee
B)policy
C)warranty
D)annuity
37. Telephone and mail scams are examples of _____.
A)fraud
B)remedies
C)rebates
D)refunds
38. The first step in resolving a difference between a customer and a business is _____.
A)suing
B)getting angry
C)telling others not to shop at that particular store
D)returning to the place of purchase
39. The _____ deals with legal disputes that involve amounts below a certain limit, which varies from state to state.
A)Small Business Administration
B)small claims court
C)Federal Deposit Insurance Corporation
D)Federal Reserve System
40. Which government agency sets safety standards for food, drugs, chemicals, cosmetics, and household and medical devices?
A)The Food and Drug Administration
B)The Consumer Product Safety Commission
C)The Better Business Bureau
D)Medicaid
A)Organizing your personal financial documents.
B)Determine how much money you will have now and in the future.
C)Plan and measure your financial progress
D)Make effective decisions about how to save money.
22. What is one of the disadvantages of keeping financial documents in home files?
A)Cardboard boxes are expensive.
B)It is hard to remember where you keep the file.
C)Your documents may not be protected against fire, water, or theft.
D)It takes a lot of time to organize your files.
23. Any items of value that an individual or company owns, including cash, property, personal possessions, and investments, are called _____.
A)direct materials
B)deductions
C)exclusions
D)assets
24. What is the first step in creating a personal balance sheet?
A)Determining your assets.
B)Paying off your credit cards.
C)Cashing your paycheck.
D)Checking your bank statement.
25. An example of a long-term liability is a _____.
A)telephone bill
B)car repair bill
C)grocery bill
D)car loan
26. The calculation for determining your net worth is _____.
A)liabilities + equity
B)assets - liabilities
C)assets × liabilities
D)liabilities ÷ assets
27. _____ is a financial state that occurs if liabilities are greater than assets.
A)bankruptcy
B)diversification
C)insolvency
D)fraudulence
28. An example of a fixed expense is _____.
A)utility bills
B)mortgage payments
C)medical costs
D)grocery costs
29. The _____ is a measure of the changes in prices for commonly purchased goods and services in the United States.
A)consumer price index
B)annual percentage yield
C)adjusted gross income
D)break-even point
30. Paying yourself first is an example of _____.
A)revising your goals
B)making sure you have money to spend on impulse purchases
C)creating a budget
D)ways to increase your savings
31. It would be beneficial to do comparison shopping for which of the following items?
A)toothbrush
B)DVD
C)computer
D)pencils
32. All of the following are steps to successful shopping EXCEPT _____.
A)signing up for a new credit card
B)identifying your needs
C)gathering information
D)becoming aware of the marketplace
33. Purchasing items on the spur of the moment is called _____.
A)consuming
B)impulse buying
C)deducting
D)fraud
34. One of the disadvantages of direct selling is _____.
A)convenience
B)difficulty in returning the purchase
C)24-hour access
D)not having to leave home
35. The calculation for determining unit price is _____.
A)unit of measure × 2
B)total price ? sale price
C)total price + unit of measure
D)total price ÷ unit of measure
36. A written guarantee from the manufacturer or distributor that states the conditions under which the product can be returned, replaced, or repaired is called a(n) ______.
A)guarantee
B)policy
C)warranty
D)annuity
37. Telephone and mail scams are examples of _____.
A)fraud
B)remedies
C)rebates
D)refunds
38. The first step in resolving a difference between a customer and a business is _____.
A)suing
B)getting angry
C)telling others not to shop at that particular store
D)returning to the place of purchase
39. The _____ deals with legal disputes that involve amounts below a certain limit, which varies from state to state.
A)Small Business Administration
B)small claims court
C)Federal Deposit Insurance Corporation
D)Federal Reserve System
40. Which government agency sets safety standards for food, drugs, chemicals, cosmetics, and household and medical devices?
A)The Food and Drug Administration
B)The Consumer Product Safety Commission
C)The Better Business Bureau
D)Medicaid
answers
21. a
22. c 23. d 24. a 25. d 26. b 27. c 28. b 29. a 30.d |
31. c
32. a 33. b 34. b 35. d 36. c 37. a 38. d 39. b 40. a |