Your net worth, or your general level of financial worth, is found by
A) subtracting your expenses from your income.
B) dividing your monetary assets by your current liabilities.
C) subtracting your liabilities from your assets.
D) dividing monthly debt (less a mortgage payment) by monthly income.
E) subtracting current liabilities from monetary assets.
Answer: C
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Word association is the best known of the ________ techniques
A) expressive B) association C) completion D) construction
Peter Piper Inc had the following information available from its 2011 balance sheet and income statement: Insurance expense $55,000 Prepaid insurance - beginning 8,000 Prepaid insurance - ending 5,000 What amount would be reported as cash outflows for insurance on the statement of cash flows for 2011 using the direct method?
A) $68,000 B) $58,000 C) $42,000 D) $52,000
In the sentence Beth and the sales representative reviewed the product descriptions on the website, the word the is a(n) ____
A) adjective B) verb C) adverb D) noun
A owns a ranch in Wyoming, which B offers to purchase. A is not willing to sell the ranch but is willing to exchange the ranch for an apartment complex in Louisiana. The complex is available for sale. B purchases the apartment complex in Louisiana from C and transfers it to A in exchange for A's ranch. The ranch and the complex each have a $1,000,000 fair market value. Which of the following is true?
A. The transaction qualifies as a like-kind exchange for A but not for B. B. The transaction does not qualify as a like-kind exchange for either B or A. C. The transaction qualifies as a like-kind exchange for B but not for A. D. The transaction qualifies as a like-kind exchange for both B and A.