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Devry BUSN380 Week 8 Final Exam
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Posted on 12/14/2015 at 10:25:34 PM
 
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Devry BUSN380 Week 8 Final Exam
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Posted on 12/14/2015 at 10:25:38 PM
 
Posted By : Bestmind
   
 
A:
1. (TCO 1) The stages that an individual goes through based on age, financial needs, and family situation is called the: (Points: 5) financial planning process budgeting procedure personal economic cycle adult life cycle tax planning process 2. (TCO 1) A lack of willingness to accept a variety of employment positions is a common career planning mistake associated with weak: (Points: 5) common sense. communication. training. flexibility. perseverance. 3.(TCO 1) The abilities to work well with numbers, possess problem-solving skills, and have physical dexterity are examples of: (Points: 5) interests. survival skills. aptitudes. occupational attitudes. on-the-job training 4.(TCO 1) Which of the following situations is a person who could be insolvent? (Points: 5) Assets $56,000; annual expenses $60,000 Assets $78,000; net worth $22,000 Liabilities $45,000; net worth $6,000 Assets $40,000; liabilities $45,000 Annual cash inflows $45,000; liabilities $50,000 5.(TCO 1) Payments that do not vary from month to month are ____________ expenses. (Points: 5) fixed current variable luxury budgeted 6.(TCO 2) Reductions from gross income for such items as individual retirement account contributions and alimony payments will result in: (Points: 5) adjusted gross income. taxable income. earned income. passive income total exclusions. 7.(TCO 2) Tax-deferred retirement plans are a type of: (Points: 5) exemption. itemized deduction passive income

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