Unit Test Spending and Budgeting

10 June 2023
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question
What is one cost of avoiding insurance?
answer
falling into debt if faced with a serious problem
question
Which living expense needs to be included in the budget of someone renting an apartment? property taxes
answer
insurance
question
Fiona wrote a check to the veterinarian for $89.56. She'll use the check register to record her transaction. What will be her new balance?
answer
$2,458.94
question
Which detail is most likely to give consumers a false sense of security about using Edgozene?
answer
our proven supplement
question
If having a warranty on a car is important, a person should buy a car that is
answer
new
question
Iliana's gross pay is $2,130 per month. Her deductions total $270. She budgets for $1,000 in fixed expenses and $400 in variable expenses. How much money will Iliana be able to save?
answer
460
question
What is most likely Yuri's motivation behind buying the pricier pair?
answer
conspicuous consumption
question
What does purchasing insurance for a business reveal about the business owner's attitude toward financial risk?
answer
it shows that the owner acknowledges the financial risks and is willing to pay every month to transfer the risk to an insurance company.
question
Aliyah made a payment in the amount of $47.93. She'll use the check register to record her transaction. What will be her new balance?
answer
1295.02
question
Which is a kind of federal payroll tax?
answer
medicare tax
question
What is the definition of liability?
answer
a responsibility to pay for or fix a problem
question
In some cases, it is safe to avoid insurance because
answer
it may not be needed
question
Which describes a type of tax that people pay on money they earn?
answer
income tax
question
Why were savings and loans (S) originally established?
answer
to help people buy homes
question
Credit unions differ from retail banks because they are
answer
owned by their members
question
Which is always a cost when buying insurance?
answer
premium
question
If Massachusetts has a sales tax of 6 percent and New Hampshire has no sales tax, how much money can be saved by buying a $1,000 television in New Hampshire?
answer
60
question
Daniel wants to buy a laptop computer, and he has $300 in savings. He can purchase a new computer for $279 or a refurbished [repaired or renovated] computer for $100. What should Daniel do next?
answer
Review the pros ad cons of the different available computers.
question
Which best summarizes the purpose of a W-4 form?
answer
It helps determine the amount of taxes withheld from an individuals paycheck
question
Glenn and Maggie own a regional chain of juice bars and are looking to expand in the coming year. They already have fifty shops, but they know they will need a loan to reach their goal of one hundred twenty five shops. Which type of banking institution is most suitable for Glenn and Maggie's business?
answer
commerical bank
question
A good rule is to spend no more than 25-30% of your income on housing.
answer
gross
question
What is the first step in the decision-making process?
answer
identify the choices