Graded Quiz Unit 3 Attempt review Personal Finance BUS 2204 PDF

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Graded Quiz Unit 3 Attempt review Personal Finance BUS 2204. The attempt review of the the Unit 3 Graded Quiz....

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10/25/21, 10:47 AM

Graded Quiz Unit 3: Attempt review

Dashboard / My courses / BUS 2204 - AY2022-T1 / 16 September - 22 September / Graded Quiz Unit 3

Started on State Completed on Time taken

Monday, 20 September 2021, 6:46 AM Finished Monday, 20 September 2021, 7:01 AM 15 mins 19 secs

Marks

14.00/20.00

Grade

70.00 out of 100.00

Question 1 Incorrect Mark 0.00 out of 1.00

The stocks in Wayne’s investment portfolio lost value in the recession, but he also had CDs and a savings account. The effect of his investment diversification on his finances was to __________.

Select one: a.

increase spending.

b. reduce risk. c.

increase income.

d. reduce cost. e.



increase variety.

The correct answer is: reduce risk.

Question 2 Correct Mark 1.00 out of 1.00

Megan’s balance sheet shows that on February 7, 2010 she had assets totaling $27,600 and debts totaling $32,500. Which of the following statements best describes her situation?

Select one: a.

She had equity.

b. She had positive cash flow. c.

She had negative net worth.



d. She had liabilities. e.

She had liquidity.

The correct answer is: She had negative net worth.

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Graded Quiz Unit 3: Attempt review

Question 3 Incorrect Mark 0.00 out of 1.00

You decide you want to have a million dollars in the bank when you retire. Your bank pays 3% interest per year. If you start when you are 28, how much would you need to save each year to reach your goal by the time you are 68, assuming the interest rate stays the same?

Select one: a.

Between $26,000 and $27,000 a year.

b. Between $13,000 and $14,000 a year. c.

Between $19,000 and $20,000 a year.



d. Between $10,000 and $11,000 a year. e.

Between $6,500 and $7,500 a year.

The correct answer is: Between $13,000 and $14,000 a year.

Question 4 Incorrect Mark 0.00 out of 1.00

Robin uses her checkbook register to record and balance each cash flow, in and out, as it occurs. This activity is called __________.

Select one: a.

bookkeeping.



b. cash accounting. c.

accrual accounting.

d. a, and b. e.

a. and c.

The correct answer is: a, and b.

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Graded Quiz Unit 3: Attempt review

Question 5 Correct Mark 1.00 out of 1.00

A balance sheet is a list of __________.

Select one: a.

assets.

b. debts or liabilities. c.

equity or net worth.

d. a. and b. e.

a., b., and c.



The correct answer is: a., b., and c.

Question 6 Incorrect Mark 0.00 out of 1.00

The value of a currency is based on __________.

Select one: a.

the cost of production.

b. its stability. c.

the value of other currencies.



d. the price of gold. e.

its usefulness in trade.

The correct answer is: its stability.

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Graded Quiz Unit 3: Attempt review

Question 7 Correct Mark 1.00 out of 1.00

When your expenses are greater than your income you have __________.

Select one: a.

sufficient cash to cover expenses.

b. more capital to sell. c.

a budget deficit.



d. a budget surplus. e.

reduced consumption.

The correct answer is: a budget deficit.

Question 8 Correct Mark 1.00 out of 1.00

The relationship between the passage of time and the value of assets is called __________.

Select one: a.

the time value of money.



b. liquidity. c.

present value.

d. future value. e.

nominative value.

The correct answer is: the time value of money.

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Graded Quiz Unit 3: Attempt review

Question 9 Correct Mark 1.00 out of 1.00

Because of inflation, the school supplies you bought for $20 last year now cost __________.

Select one: a.

$19.95.

b. $10. c.

$15.

d. $30. e.



$12.95.

The correct answer is: $30.

Question 10 Correct Mark 1.00 out of 1.00

Time affects value by __________.

Select one: a.

discounting value.



b. decreasing distance to liquidity. c.

reducing risk.

d. delaying opportunity costs. e.

postponing choice.

The correct answer is: discounting value.

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Graded Quiz Unit 3: Attempt review

Question 11 Correct Mark 1.00 out of 1.00

A period of declining productivity lasting less than half a year is called __________.

Select one: a.

a contraction



b. a depression. c.

a recession.

d. an expansion. e.

None of the above

The correct answer is: a contraction

Question 12 Incorrect Mark 0.00 out of 1.00

Bankruptcy occurs when __________.

Select one: a.

there is negative net worth.

b. debts are greater than assets. c.

you default on a loan.

d. a. and b. e.

a., b., and c.



The correct answer is: a. and b.

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Graded Quiz Unit 3: Attempt review

Question 13 Correct Mark 1.00 out of 1.00

To calculate the relationships between time, risk, opportunity cost, and value, you need to know all of the following variables EXCEPT __________.

Select one: a.

what the future cash flows will be.

b. when the future cash flows will be. c.

where the future cash flows will go.



d. the effect of time on value. e.

the rate at which time affects value.

The correct answer is: where the future cash flows will go.

Question 14 Correct Mark 1.00 out of 1.00

An effect of deflation is that your money __________.

Select one: a.

is worth more and buys more.



b. is worth less and buys less. c.

has less purchasing power.

d. is less useful as a medium of exchange. e.

is more stable.

The correct answer is: is worth more and buys more.

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Graded Quiz Unit 3: Attempt review

Question 15 Correct Mark 1.00 out of 1.00

Examples of annuities include all the following EXCEPT __________.

Select one: a.

savings plans.

b. layaway purchases. c.

mortgages.

d. one-time cash flows. e.



retirement plan payouts.

The correct answer is: one-time cash flows.

Question 16 Incorrect Mark 0.00 out of 1.00

If the demand for labor is greater than the supply, then __________.

Select one: a.

the price of labor is lower.

b. the price of labor is higher. c.

there are fewer jobs available.

d. a. and c. e.



b. and c.

The correct answer is: the price of labor is higher.

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Graded Quiz Unit 3: Attempt review

Question 17 Correct Mark 1.00 out of 1.00

In financial planning, the numbers expressed in an income statement, balance sheet, and cash flow statement are assessments of __________.

Select one: a.

short-term and long-term goals.

b. net worth. c.

alternatives.

d. timing. e.

the current situation.



The correct answer is: the current situation.

Question 18 Correct Mark 1.00 out of 1.00

Buying stocks or corporate or government bonds is a way to invest in __________.

Select one: a.

the capital market.



b. the credit market. c.

the labor market.

d. the buyers’ market. e.

the sellers’ market.

The correct answer is: the capital market.

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Graded Quiz Unit 3: Attempt review

Question 19 Correct Mark 1.00 out of 1.00

The formula PV x (1+r)t = FV expresses the relationship between __________.

Select one: a.

present and future value.



b. risk and the value of money. c.

discount rate and risk.

d. liquidity and time. e.

utility and value.

The correct answer is: present and future value.

Question 20 Correct Mark 1.00 out of 1.00

The Accounting Equation states that __________.

Select one: a.

Assets – Debt = Net Worth.

b. Assets = Liabilities + Equity. c.



Assets = Debt + Net Worth

d. Assets = Income – Cash Flows. e.

Assets + Debt = Liquidity

The correct answer is: Assets = Liabilities + Equity.

◄ Learning Journal Unit 3 Jump to... Textbook Chapter 4 ►

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