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Final
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Click the "Grade Exam" button to save your answers and to grade your exam.
You may click "Grade Exam" as often as necessary. Once you get 70% or higher, you will
have the option to see which questions you missed and to create your Certificate of Completion.
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| Read 'Chapter 0: Course Material' & answer the following question(s): |
| 1. | Financial statements do NOT include: |
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| 2. | The expression double-entry system is |
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| 3. | Current assets do NOT include: |
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| 4. | Revenue listed on the income statement does NOT include: |
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| 5. | The net worth figure is useful when: |
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| 6. | When making comparisons, it is customary to convert income statement data to: |
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| 7. | A balance sheet must show figures: |
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| 8. | The processes and procedures used to record measures of dollars and cents, according to categories, are called: |
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| 9. | Another name for the income statement is the: |
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| 10. | Most businesses recognize revenues and expenses, using the ________________ method of accounting |
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| 11. | Which of the following is NOT on an individual’s income statement? |
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| 12. | The basic financial statements include a |
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| 13. | For most businesses, the current ratio should be ______________. |
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| 14. | The values shown for assets such as real estate and equipment will be recorded at. |
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| 15. | Four sales representatives employed by Blue Carpet Realty earned $2120; $1865; $2863; and $2175 during the past month. What was the average of their monthly earnings? |
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| 16. | The Lawson’s wanted to insure their house for $275,000. The insurance company charges an annual premium rate of 33 1/3 cents per $100 insurance for this type policy. How much is their annual premium? |
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| 17. | Last year a family paid $26,500 for house payments. If this is 30% of the family's annual income, how much was the annual income? |
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| 18. | A farm sold 64 acres of a 480-acre farm. Express as a fraction what part of the farm sold. |
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| 19. | John bought three tracts of land: 3/4 acre, 7/15 acre, and acre. How many acres did he purchase? |
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| 20. | A property grosses $42,000 per month with a yearly expense of 36% of the gross income. If it was capitalized at 16%, what would be its value? (nearest thousand) |
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| 21. | A property listed for $90,000 was insured at a rate of $3.00 per $1,000 per year. What is the yearly insurance premium? |
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| 22. | The area of a square plot of property is 3,600 square yards. How long is the side of the square plot? |
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| 23. | At a cost of $3 a square foot how much money is paid for carpeting a square with a side of 15 feet? |
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| 24. | The width of a swimming pool is 25.5 feet wide, and the length is twice as much. What is the area of this swimming pool? |
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| 25. | Compute the exact interest due on a loan of $80,000 at 10.5% for 120 days. |
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| 26. | Compute the exact interest due on a loan of $2,100 at 8.25% from June 18 to September 1 |
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| 27. | Assume that it would cost $330 in interest to use a sum of money for 18 months. If the interest rate was 11 percent, how much is the loan? |
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| 28. | Find the area of a square lot that has a side of 60.1 yards. |
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| 29. | A circular shaped lot has a radius of 100 ft. What is the area of this property? (use pi = 3.14) |
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| 30. | An office building is valued at $800,000 when net operating income is capitalized at a rate of 20%. If operating expenses are 40% of gross income, what is gross income? |
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Return to Syllabus
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