Why are _____ cash flows important and how do you calculate them? Fixed costs are important because they remain constant. They are calculated by summing all fixed expenses. Sunk costs are important because they reflect past expenditures. They are calculated by adding all past costs. Incremental cash flows are important because they reflect the net additional cash flows generated by a project. They are calculated by subtracting the firm's cash flows without the project from the cash flows with the project. Variable costs are important because they change with production levels. They are calculated by multiplying unit cost by quantity.

Incremental cash flows are important because they reflect the net additional cash flows generated by a project. They are calculated by subtracting the firm's cash flows without the project from the cash flows with the project.

What is the term for the calculation of the percentage change in sales revenue from the prior year to the current year? revenue increase percentage change in sales revenue growth rate sales variance

percentage change in sales revenue

Which of the following actions should a merchandiser take at the point of sale to recognize an accounts receivable? Record the sale and decrease accounts payable Record the sale and increase cash Record the sale and increase accounts receivable Record the sale and decrease inventory

Record the sale and increase accounts receivable

What is a primary difference between a note receivable and an account receivable? An account receivable includes interest and a maturity date An account receivable is always long-term A note receivable includes interest and a maturity date A note receivable is always short-term

A note receivable includes interest and a maturity date

How is the capital gain or loss calculated from the sale of a capital asset? Market value minus cost Selling price minus purchase price Depreciation recapture minus cost Amount realized minus adjusted basis

Amount realized minus adjusted basis

In a gift transaction, how is the gain or loss mode determined? By comparing market value to purchase price By comparing amount realized to donor's basis By comparing selling price to adjusted basis By comparing depreciation to cost

By comparing amount realized to donor's basis

How are net capital gains or losses determined for a taxpayer? By adding all gains and subtracting all losses By calculating the difference between selling price and cost By applying the FIFO method to all transactions By separately combining LTCGs and LTCLs; STCGs and STCLs

By separately combining LTCGs and LTCLs; STCGs and STCLs

Magda is going to finance her car purchase using an auto loan. Which statement below is accurate regarding the principal amount? The principal is the monthly payment amount The principal is the total cost of the car including interest The principal is the interest rate applied to the loan The principal is the cost of the car, minus any down payment she makes

The principal is the cost of the car, minus any down payment she makes

Jaime is creating a budget for the first time and doesn't know which to use - NET PAY or GROSS PAY. What do you tell him? Use net pay, because it includes bonuses and overtime Use net pay, because it's the total amount you've earned minus taxes and other deductions Use gross pay, because it represents your total earnings before any deductions Use gross pay, because it is the amount deposited into your bank account

Use net pay, because it's the total amount you've earned minus taxes and other deductions

Why is sending a personalized thank you after a job interview important? It allows you to negotiate salary terms It gives you the opportunity to leave a good impression by expanding on an answer you gave or a topic you discussed It guarantees you will get the job It is a formal requirement for all job applications

It gives you the opportunity to leave a good impression by expanding on an answer you gave or a topic you discussed

All of the following are characteristics of a secured credit card EXCEPT... They require a security deposit They don't have a spending limit, so you have to be very mindful of how much you buy with them They often have higher interest rates than unsecured cards They help build or rebuild credit

They don't have a spending limit, so you have to be very mindful of how much you buy with them

The monthly premium for Kevin's renters insurance is $15, and his deductible is $500. During the month of April, someone breaks into his apartment and steals or destroys $2200 worth of his possessions. How much will Kevin pay and how much will the insurance pay to replace his items? Kevin pays $2200; insurance company pays $0 Kevin pays $0; insurance company pays $2200 Kevin pays $500; insurance company pays $1700 Kevin pays $1700; insurance company pays $500

Kevin pays $500; insurance company pays $1700

Which definition best describes the FAFSA? The application you submit in order to determine eligibility for federal student aid A financial aid package offered by colleges A scholarship application form A loan agreement for student loans

The application you submit in order to determine eligibility for federal student aid

All of the following can be found in your credit report EXCEPT... Your loan balances Your credit card payment history Your checking account balance history Your credit inquiries

Your checking account balance history

Finance

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