Wise Practice Test 100% Correct!!
Wise Practice Test 100% Correct!!
budget variance. - Answer the difference between the budgeted amount and the
actual amount that you spend
debt ratio - Answer shows the relationship between debt and net worth.
debt ratio - Answer The lower the ratio the better off financially the person is.
debt ratio - Answer calculated by dividing liabilities by net worth
excise tax - Answer government imposes a tax on specific goods and services such
as alcohol, cigarettes, gasoline, and airline
capital gains - Answer are profits made from the sale of capital assets such as
stocks and bonds
Capital gains - Answer tax deferred until the asset is sold,
Capital Gains Tax - Answer If held over one year are considered long-term capital
gains and are taxed at a lower tax rate or in some cases are not taxed at all.
variable expenses - Answer change from one period to another,examples Electricity
and food expenditures
get advice from your friends - Answer will help you the least in managing your
money?
Financial planning - Answer the process of developing and implementing a
coordinated series of actions to achieve financial success.
Financial planning - Answer need to be reviewed and adjusted to accommodate
changing needs and goals.
emergency fund - Answer Should be an important consideration when saving money
liquidity - Answer being in cash or easily convertible to cash, How easily an asset
can be converted into cash
Social Security - Answer benefits depends on the person?s earnings over a lifetime
of work
Department store charge cards. - Answer open-end credit
