Put the following six steps in order for a financial plan:
(a) identify and evaluate plans that could achieve your goals
(b) consider current financial position
(c) revise the plan
(d) establish financial goals
(e) evaluate the plan
(f) select and implement the best plan
What will be an ideal response?
Answer: (d), (b), (a), (f), (e), (c)
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Which of the following is a disadvantage of incentive compensation plans?
A. Employers are taxed heavily on their expenditure incurred through incentive plans. B. Employers are unable to increase employee productivity while following incentive plans. C. Employees know that a rise in productivity will have no impact on their compensation. D. Employees are taxed heavily on their income from incentive plans. E. Employees don't develop loyalty to their employers when incentive plans are practiced.
Jasper makes a $45,000, 90-day, 6.5% cash loan to Clayborn Co. The amount of interest that Jasper will collect on the loan is: (Use 360 days a year.)
A. $243.75. B. $2925. C. $1462.50. D. $32.50. E. $731.25.
The example in the textbook that discussed the housing market crisis of 2007 and 2008 illustrated the downfall of which personality dimension?
a. Low self-monitors b. High risk-takers c. Type B orientation d. High proactive personality
Molen Inc. has an outstanding issue of perpetual preferred stock with an annual dividend of $2.00 per share. If the required return on this preferred stock is 6.5%, then at what price should the stock sell?
A. $30.77 B. $32.92 C. $38.15 D. $23.38 E. $27.38