Question

31. Kyle hes decided to put 525 ore er wosk in his savings hinks bulding his savingss E. a budget anomaly 32. Jamie McFarland has determined that the value of her liquid assets hor real estate is $128,000, the value of her personal possessions is $82.000, bss her investment assets in $73,000. She has also determined the value of her current in $4,500, the value of $7,500 and the value of her long term liabilities is $98,000. What is the totail v debts? value of her A $267.500 В $105,500 C. $162,000 D. $205,500 E. None of these 33. Patricia McDonald has determined that the value of her liquid assets is $4.500, the her real estate is $128,000, the value of her personal possessions is $62.000, and the value her investment assets is $73,000. She has also determined the value of her current liabilities is the value of $7,500 and the value of her long term liabilities is $98,000. What is Patricia's net worth? A. $267,500 B. $105,500 C. $162,000 D. $205,500 E. $132,000 34. Which of the following goals would be the easiest to implement and measure its nt? A. "Reduce our debt payments. B. "Save funds for an annual vacation." C. "Save $100 a month to create a $4,000 emergency fund. D. "Invest $2,000 a year for retirement." E. "Increase our emergency fund 35. A formalized report that summarizes your current financial situation, analyzes your financial needs, and recommends future financial activities is a(n): A. insurance prospectus. B. financial plan. C. budget. D. investment forecast. E. statement. 36. Brad Johnson has a goal of "saving $50 a month for vacation. Brad's goal lacks: A. measurable terms. B. a realistic perspective. C. specific terms. D. the type of action to be taken. E. a time frame.

Answer 1

SOLUTION =

31) NOT POSSIBLE TO READ

32) OPTION B ( TOTAL DEBT = CURRENT LIABILITIES + LONG TERM LIABILITIES = $7,500+$98,000) = $105,500)

33) OPTION C ( NET WORTH = CURRENT ASSETS + REAL ESTATE + PERSONAL POSSESSION +INVESTMENT- CURRENT LIABILITIES - LONG TERM LIABILITIES =4,500+128,000+62,000+73,000-7,500-98,000 = $162,000)

34) OPTION C AS IT IS SPECIFIC ABOUT MONTHLY SAVINGS AND GOAL TO BE ACHIEVED

35) OPTION B FINANCIAL PLAN ( FINANCIAL PLAN INCLUDES EVERY ASPECT OF YOUR FINANCE LIKE EARNINGS, SAVINGS , INVESTMENTS , INSURANCE , TAXES FUTURE EARNINGS , RETIREMENT PLAN , WITHDRAWAL PLANS ETC)

36) OPTION C SPECIFIC TERM AS AMOUNT TO BE SAVED IS SPECIFIC.