Unit Test — Cumulative exam Answers

Which of these is not a main advantage for a business joining a cooperative?

Insurance offers consumers

Skye listed her assets and liabilities on a personal balance sheet. Skye’s Balance Sheet (April 2013)AssetsLiabilitiescash$1,000credit card$4,000investments$1,000student loan$1,000house$200,000mortgage$100,000car$8,000car loan$5,000Total???Total???Net Worth: ???What is Skye’s net worth?

Most often, an insurance deductible must be fulfilled

An interest in supervising other workers would be useful for someone who wanted to become

Carlos wrote a check for $44.92 to pay his gas bill. He’ll use the check register to record his transaction. What will be his new balance?

Which is a long-term consequence of paying less than the minimum amount due on your bills?

Which best describes one of the primary aims of government fiscal policy?

Savings should be treated as another type of

Error

An income is measured as

Geoff rents an apartment with a monthly rent of $850. He owns the furniture in the apartment, which is worth $3,500, and he owns his car, which is worth $6,000. Geoff has a balance of $1,225 on his credit card and has $3,560 in a savings account.Which is one of Geoff’s liabilities?

Error

Error

The higher a country’s gross domestic product (GDP), the more likely it is that the country

W-2 formW-4 form1040 formtax return

Nathan has $300 to open a checking account. He wants an account with the lowest fees. He plans on using the ATM machine, and his employer offers direct deposit.Bank Account Terms and ConditionsWhich checking account would be best for Nathan?

Besides the actual mortgage payment, which also factors into the monthly payment on a home?

Daryl would like to open new checking and savings accounts. He wants to join an institution that is not focused on making a profit. Which type of banking institution is most suitable for Daryl?

In which situation would a savings account be the best investment to earn interest?