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Fin 300 Final Exam Correct answers latest update
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Fin 300 Final Exam Correct answers latest update
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Fin 300 Final Exam Liquidity - ANS>The term that considers having money readily available when you need it Achieve financial goals - ANS>The major reason to make a financial plan Estate planning - ANS>Planning for your eventual death and the distribution of your wealth to your heirs Assets - ANS>The first section of a balance sheet Investment assets - ANS>Assets that you purchase for the purpose of accumulating wealth to satisfy your financial goals Liabilities - ANS>Financial debts and obligations that you owe Fair market value - ANS>More than or less than the price you paid for a given asset Monetary assets - ANS>Include cash, checking and savings account balances, and money market funds Tangible asset - ANS>A physical asset such as an HD, flat -screen TV or a Harley Davidson motorcycle Variable expenditure - ANS>An expenditure that you can control over time and that you can manage Fixed expenditure - ANS>An expenditure over which you have no control and is generally at a constant level each month Discounting - ANS>The process of finding the present value of a future cash flow Perpetuity - ANS>An annuity where the payments never stop Step 1 - ANS>Evaluate your financial health Step 2 - ANS>Define your financial goals Step 3 - ANS>Develop a plan of action Step 4 - ANS>Implement your plan Step 5 - ANS>Review your progress, reevaluate, and revise your planThe benefits of buying summaries with Stuvia:
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