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Finance Essay

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Below is an essay on "Finance" from Anti Essays, your source for research papers, essays, and term paper examples.

This Exam is long !!!

Manage your time !!!

Answer on your official exam copy !!!

Course question (20 points) :

What information does a cash flow statement present?

The cash flow statement summarizes actual inflows and outflows of cash during a given time period. The cash flow statement is a report of your spending patterns and can be used to create budget amounts for various expense categories. (pp. 83-86)

Exercise (20 points)

Based on the following data, would Ann and Carl Wilton receive a refund or owe additional taxes?

Adjusted gross income, $46,186
Itemized deductions, $11,420
Child care tax credit, $80
Federal income tax withheld, $4,784
Amount for personal exemptions, $6,800
Average tax rate on taxable income, 15%

Taxable income would be $27,966 ($46,186 - $11,420 - $6,800) times the average tax rate of 15 percent equals $4,195 less a tax credit of $80 gives a tax liability of $4,115. When compared to federal tax withheld ($4,784), the result is a refund of $669.

MCQ (30 questions - 120 points)

Only 1 answer is right.

+ 4 points for the right answer
- 1 point for a wrong answer
  0 point for no answer

Personal Finance Basics and the Time Value of Money

1. Who is most likely to benefit from inflation? 
A. retired people
B. lenders
C. borrowers
D. low-income consumers
E. government  

2. A major activity in the planning component of financial planning is: 
A. selecting insurance coverage.
B. evaluating investment alternatives.
C. gaining occupational training and experience.
D. allocating current resources for spending.
E. establishing a line of credit.

3. If a person deposited $50 a month for 6 years earning 8 percent, this would involve what type of computation? 
A. simple interest
B. future value of a single amount
C. future value of a series of deposits
D. present value of a single amount
E. present value of a series of deposits

4. If inflation is increasing at 3 percent per year, and...

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Finance. Anti Essays. Retrieved December 16, 2018, from the World Wide Web: http://trenmayamx.com/free-essays/Finance-191002.html