Pre paid card money is - Study guides, Class notes & Summaries

What are the sources of income? - wages, rentals, interest, capital, profits, investments, entrepreneurship What is exemption (allowance) and how does it work? - allowance is used to reduce amount of taxed income What are Gift Cards and how do they work? - they are a closed loop system and open loop system What is a money order? - it is a payment order for a pre-specified amount of money and is purchased at different types of stores -- it is used as a check. Why does the U.S. currenc...

Sources of income - wages, rentals, interest, capital, profits, investments, entrepreneurship Exemption (aka an allowance)) and how does it work - allowance is used to reduce amount of taxed income Liquidity—what does it mean; what products are liquid - the degree of ease in which assets can be sold Gift cards and how they work (a monthly inactivity fee may begin after 12 months) - closed loop system and open loop system Discretionary income or budget surplus - not a...

Certified Payroll Professional Exam 120 Questions with Verified Answers Form SS-8 - CORRECT ANSWER Determination of worker status for purpose of federal employment taxes and income tax withholding. Can be filled out by the business or worker. Form W-4 - CORRECT ANSWER Employees withholding allowance certificate. Documents the amount of federal tax withholding. Form SS-4 - CORRECT ANSWER Application for employer identification number. Form 8233 - CORRECT ANSWER Exemption from withhold...

FICEP Part 2 Latest Update Graded A 401k Plan A plan which allows employees to make tax-deferred contributions to retirement savings accounts. Many employers match these contributions at a specified ratio to help retirement savings build faster. Beneficiary The person or persons who are designated to receive the amount of the death benefit if the policyholder dies. Cafeteria Plan Tax-qualified flexible benefit plans that are offered by participating employers. It was created by the internal Re...

ESB EXAM Study Guide Complete Questions (answered spring 2023) A beekeeper is analyzing the cash flow for his business for the prior year. What was the ending inventory value? A beekeeper wants to start a seasonal business renting hives to farmers to pollinate their orchards and crops. The beekeeper believes the business will cover its own costs after three months, and that start-up expenses for hives, trucking, and other costs through that same time will be $18,000. What is Total Financi...

Personal Financial Literacy-AES Questions and Answers Rated A Money you earn from assets you have purchased or created. Generally recurring income. Passive The top salary you can make. Earning potential The quality, state, or fact of being able to generate, create, enhance, or bring forth goods and services. Productivity Meredith received a refund of $500. Meredith needs a new laptop, but she would also like to go on vacation to the Bahamas. If Meredith purchases the laptop, what is her oppo...

Broker Zeke is busy and doesn't have time to go to the bank, so he deposits his client's earnest money funds into his personal account. He plans to move the funds to the appropriate account within a week. This violation is an example of ______. ngling actual interference re to disclose agency relationship rming services that would qualify as practice of law - Answer commingling Jerome let his license expire four years ago when his wife had twins and he decided to become a stay-at-ho...

Rental Obstacle + Solutions: Low Income - Answer -Some Renters reject people whose Rent would be more than 30% of GMI -Solutions -Apply for Housing Assistance -Expand housing search areas -Get a roommate -Move in w/family or friends Strategies for decreasing expenses and debt - Answer Prioritize "needs over "wants" -reduce or eliminate "wants" -cancel or downgrade services(e.g. cable, telephone) -limit miscellaneous spending - stick to a shopping list - pay off a loan or credi...

HUD Housing Counselor Certification Practice (HUD Knowledge Assessment) Questions And Answers Already Graded A+ What is the maximum percent of area median income allowable for a household to qualify for a Housing Choice Voucher? 50% Which is the maximum recommended housing ratio for renting an apartment? 30% Eligibility requirements for down-payment assistance programs include which factors? Income, home-buyer education, purchase price The client is considering an FHA mortgage. What is ...

assets - money and other valuables belonging to an individual or business, e.g a car, a house, stocks/retirement, antiques, collectibles stuff that you OWN opportunity cost - Cost of the next best alternative use of money, time, or resources when one choice is made rather than another Sources of Income - wages, rentals (real estate), interest, capital, profits, investments, entrepreneurship Exemption (aka an allowance) and how does it work - allowance is used to reduce amoun...