How can someone plan for a major illness?
What will be an ideal response?
Answer: Part of financial planning is being prepared for the unplanned events that occur to most of us sooner or later. Sound budgeting to make sure we have enough in an emergency fund to meet the liquidity ratios from chapter two is essential. Keeping our debt ratios under 15% gives us options and flexibility in case something bad happens and we lose some income. Being properly insured before we develop a pre-existing condition is vitally important. You can't avoid a catastrophe but you can be proactive in managing and lessening it's financial impact.
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Alice Long had her home built by Talman Developers. After closing, and upon moving into the house, Alice is troubled by an odd smell. A property inspector concludes that Talman used Chinese drywall in the home, a drywall that contains formaldehyde - a substance that begins to emit odors in warm, humid climates (such as Florida where Alice lives). Which of the following describes Alice's rights?
A)?Alice can recover from Talman for the repair of the problem because it was a breach of the warranty of habitability. B)?Alice will have to recover for her damages from the dry wall installer or the Chinese manufacturer. C)?Alice has no remedy because she has already closed on the house. D)?If Talman had an "AS IS" clause in its contract, it is not liable to Alice.
When Crate & Barrel began carrying a line of cookware created specifically for the retailer by well-known designer Michael Graves, its ads used the following ________ headline: "Can a great designer make a great cook?"
A. informative B. imperative C. benefit D. command E. question
Unrealized gains and losses on trading debt securities are reported on the income statement.
Answer the following statement true (T) or false (F)
Which of the following is NOT an example of a good?
A) a pair of shoes B) a print ad C) a dozen farm-fresh eggs D) a barrel of oil E) a stack of diner pancakes