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Multiple choice, true or false, and financial math questions related to analyzing the financial situations of newlyweds mike and sandy, and student john fox. Topics covered include liquidity ratio, net worth, and surplus/deficit. Students of finance or accounting may find this document useful for exam preparation.
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Chapter 1- 4 PART 1 MULTIPLIE CHOICE 15 PART 2 TRUE OR FALSE 5 PART 3 FINANCIAL MATH 5 Total questions (points) 25 (x4)=
John just graduate from medical school with $100,000 in student loans. He owns a car he bought 4 years ago for $12,000, but the wholesale value today is only $5,000. He bought a computer 4 years ago for $4,000, but now it is worth $2,000. He has no debts other than his student loans. He has $500 in his checking account. He has not other assets or loans. His income in October will be $5,000. His rent of $1,000 is due on October 10. What is his net worth?