Study the entries in Lupe's records and bank statement. b. IAS 19 Employee Benefits replaced IAS 19 Accounting for Retirement Benefits in the Financial Statements of Employers (issued in January 1983). In determining whether to issue a loan, banks are not allowed to ask about an applicant's d. professional photographer for special events Choose the statement that describes an advantage of paying a bill through the mail with a check. He will get the house for a lower price. b. The median salary for this career is $30,000. _____ is a process for enabling employees to better understand & develop their career skills & interests & to use them most effectively within the company & afterwards. I, II, and III, Olivia has taken out a $13,100 unsubsidized Stafford loan to pay for her college education. How much more will Viola's monthly payment be if the loan is unsubsidized than if the loan is subsidized? a. Which is a short-term consequence of making a late payment on your bill? Companies know they can make more money by selling fewer products at higher prices. d. Checking accounts offer limited checks but offer higher rates of interest. A password is 4 characters long and must consist of 3 letters and 1 of 10 special characters. One way to revise a budget to meet long-term goals is to (blank) discretionary spending. d. local social security tax. a. b. How much interest capitalization will have accrued by the time Edgar graduates? c. a. Compound interest pays interest on the principal and the interest earned in each period. They both invest money to earn a profit. She should research the average salary of similar positions to see if the offers are fair. c. her Social Security number Management is concerned with tax consequences. Which explains why he should establish a positive credit history before buying the house? c. Form a decision. c. Rupert's credit limit is most likely higher than Tamera's, and his interest rate is most likely lower. Check all that apply. $949.80 $96.96 Kenya used a debit card to buy a pair of jeans. $7,353.80 c. She should contact the police about possible theft. The plans are simple and easy to construct. a. income and location. Store B has the same rug for $46 and is offering a $10 off coupon. The loan has a duration of 10 years and an interest rate of 6.1%, compounded monthly. If Kanya uses the credit card and pays the full balance during the billing cycle, she will spend $50.40 more than paying cash for the laptop. b. III and IV are governmental; I and II are not. over time, usually many years. Which questions should Lakesha answer before making her decision? c. Ignore the fee because it is relatively small. $600 per month for 1 year a. progressive tax I, II, and III only b. Julio is correct because he can pay $45,000 and have no more liabilities. c. Joaquin should take the class because a promotion will mean a larger salary over the long term compared to a single cash advantage. With a better credit rating, her payments could have been $440.82 per month. a. Sofia has saved $10,000. b. community colleges II and IV are governmental; I and III are not. for the employee benefits which shows that the employee get some facilities like HRAs, TA/DA, paid vacations and many more. d. Shona can afford the rug in store A. Most firms have the same benefits for both categories of employees, regardless of the law. d. Employee benefits are added perks offered and provided by employers on top of compensation and can include extended medical insurance, paid time off, profit sharing, learning and development strategies, retirement benefits, and more. d. e. can be broken at any time, a. requires a credit check b. amount budgeted The loan has a duration of ten years. What is the difference in the finance charges for the two choices? IAS 19 Employee Benefits (amended 2011) outlines the accounting requirements for employee benefits, including short-term benefits (e.g. country of origin. Which information can be found on a person's credit report? c. Tuition is money borrowed to pay for an education. What types of information does a W-2 form contain? e. paying a credit card balance in full each month, b. making late payments $664.35 Which statement best describes lifetime income? c. how much has been withheld for taxes b. Simple interest is paid only on the (blank). Click the card to flip Definition 1 / 39 b They are issued in cooperation with the student's university to reduce costs and paperwork. a. Alan's lifetime income is his employee benefits, like health insurance. How many different 4-digit personal identification numbers are possible if no digit can be used twice? 811,200, A 6 character computer password is made up of 4 numbers followed by 2 letters. c. $200 c. Yarin's gross pay for the year was $3,500. e. savings for your emergency fund, a. utilities b. the amount of cash saved to determine if he needs a credit card Mr.Collins buys a table and sofa for $2,028.The table costs 30% of the price of the sofa. Check all that apply. d. current address, monthly income, car loan payment history, schools attended, a. previous address, current address, bankruptcy, car loan payment history. income She should use a personal blog of an architect since it is a person in the industry. c. showing her driver's license, making sure she has a positive credit history, Before giving a loan to a customer, a lender examines the customer's credit report. a. right to dignity. b. checking account b. low interest rate on a car loan d. Gathering information. - (blank). She decides to use a credit card instead. unsubsidized Stafford loan skimming 3,276,000 a. direct deposit of a paycheck Federal grants are awards that don't have to be repaid, but students must pay back any scholarships they receive. She will have $1.84 left over. c. c. She must check to see if any automatic payments are scheduled for her account. Which is the most important consideration when deciding to purchase or lease a vehicle? 4,500 $337.56 a. b. e. She must make sure she will be able to make the monthly payments. c. How many different passwords are possible? Which statements apply to leasing a car? $55.07 d. You must return the car after the lease ends. Throw away credit card applications in the garbage. d. medicare tax, If a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is b. a. b. d. date of birth. If having a warranty on a car is important, a person should buy a car that is (blank). d. $50,000. I. b. gathering information on available housing. c. She must check to see if any automatic payments are scheduled for her account. It contains many types of information, including: a. wages and salaries, annual leave), post-employment benefits such as retirement benefits, other long-term benefits (e.g. d. an amount of time during which a loan can be repaid without interest, b. a loan given for a short period of time that is not dependent on credit history, Which is a desirable characteristic to look for when choosing a credit card? Taking action. Kenya borrowed the money to buy the jeans. Check all that apply. b. the total salary and retirement benefits for all the years worked d. Shawna decides to set up automatic withdrawals to pay her bills because she does not want to have to remember to keep enough money in her checking account. b. Check all that apply. the person's education level, an unpaid utility bill that has been given to a collection agency The car may be driven as much as needed. Which of the following should Tyler expect? b. c. See if the job offers are fair by going online and finding average salary information for chemists. Ariel wants to compare the salaries for positions she was offered at two companies. Jessica is low risk but will not pay her outstanding balances on time. a. CD d. Tuition is the price of attending classes at a school. a. a. two books for $29.95 each b. $1,139.76 Kenya used money directly from her bank account to buy the jeans. c. She should research the average salary of similar positions to see if the offers are fair. municipal bonds c. local taxes. b. d. Joaquin should take the class because $3,000 is too small of an amount to bother putting away for retirement. She also wants to be able to access her money if the need should arise. e. savings for your emergency fund, Ramya's mom was hired for a new job with a yearly income of $84,000. She has $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. a. b. In a defined benefit plan, a formula is used that. must repay the loan in five to ten years. She should research the benefits included in each offer. As Ruth Ann is researching careers, she decides she enjoys living in her hometown and doesn't want to relocate. She plans to graduate in 4 years. d. Employee benefits are nonsalary compensation granted by an employer. $21.00 location of the company It will be easier for him to get a loan to buy the house. e. how much additional tax is due The rebate is better; it saves $75 more. All of the loans were subsidized. $76.55, Which loan or loans listed below are awarded based on the financial need of the student? She asked Ramya to compute her net monthly income. c. $137,532.67 a. getting a high interest rate on a credit card offer b. He is also good at math but is rather shy. I only Prices fluctuate on the basis of demand. c. $4.80 It creates a base for happiness and satisfaction of the workforce that limits the labor turnover and confers a stable organization. Yes, the New York Stock Exchange is the principal exchange for the nations of the world. c. her Social Security number There are two options offered to reduce the price: either a 25% discount off the price or a rebate of $300. corporate bonds a. lower up-front costs d. the total cost of college classes and vocational training divided by the total years worked, b. the total salary and retirement benefits for all the years worked, Sebastian has just graduated after four years of university. b. I. dumpster diving $3000 monthly line of credit I & II only d. b. d. She should take the position that offers the largest salary. $33.10 156,000 One reason a student may seek a federal student loan instead of a private student loan is that $10.00 Which explains why the lender examines the customer's credit report? The loan has an interest rate of 5.6%, compounded monthly. Prices are set by the financial market. Which statement best describes a situation requiring an auditor to apply Department of Labor (DOL) independence rules? When studying finance or economics, the cost of a decision is also known as a(n). d. How much in finance charges can I afford to pay? a smaller percentage chance of loss. Tuition is aid given to a student by an institution. a. Which type of account is most suitable for Sofia's needs? What must he consider before using that method of payment? They both receive capital to use for growth. $260.37, Calculate the monthly payment for a 5-year car loan of $23,570 at 10.43% interest, compounded monthly. phone number b. to help people buy homes What are her motivations? a. Which statement best describes the lesson we can learn from Lupe's experience? Each paycheck is less, even if an employer wants you to work more hours in a week. b. Postsecondary education includes the total income that you receive over the course of your lifetime. $20 per year until the loan is paid off. to help people invest in small businesses a. Shondra should be sure she will remember to call the store each month to make the payment. Tuition is federal money awarded to a student. Simple interest is paid on small, short-term loans, while compound interest is paid on large, long-term loans. superior prospects for short-term gains. Post-employment benefits are employee benefits (other than termination benefits and short-term employee benefits) that are payable after the completion of employment. Marlene has decided to save $3,500 so that she can attend the nearby community college. To revise a monthly budget, changes in which categories might need to be addressed? b. b. Hafsa wants a guaranteed return, and won't need the money for several years. d. requires a signature for rent-to-own agreements b. a. previous address, current address, bankruptcy, car loan payment history d. decreases annually. Kenya will pay for the jeans over time. However, when she receives her bank statement, she's surprised to see that she has been charged a $5.00 overdraft fee. a. mortgage payments decrease as equity increases. wealthy relative. Social security and medicare are b. Yuri must know the interest rate on a furniture loan. You may obtain information about these programs by visiting the Workplace Safety & Health page. a. applying for loans to pay for college. b. Employers may offer a diverse range of other employee benefits including: unlimited holiday; paid or part-paid conference attendance; Christmas parties; concierge services; relaxation apps; free or subsidised staff canteens; and a nap room. Round all dollar values to the nearest cent. mother's maiden name an inquiry from a bank that requested the person's credit report Visit the websites of all of the companies to learn more about them. d. doctor for a professional sports team, a. doctor in a clinic that serves a low-income population, Cameron is choosing a career out of high school with no further training. Why do most student loans involve a co-signer? $2,800, Tyrell has a bankruptcy on his credit report and therefore pays higher interest rates on his current loans. getting money with special repayment terms b. state income tax. 730,080 Check all that apply. Which step in the decision-making process should Simon now take? Making a decision. e. accountant for a theater, b. music teacher at a school Which statement describes employee benefits? Federal grants can be awarded for various reasons, but scholarships are always based on a student's financial need. The 25% discount is better; it saves $12.50 more. $324.33, Toby just graduated from four years of college. b. car payments must become part of the budget. Tayesha wants to find more information about a career in architecture. a. the monthly savings amount. b. employee benefits Jenika has the cashier run her debit card as a credit purchase, rather than debit, to avoid having to enter her PIN. A tighter job market requires that an organization present itself as an employer of choice, a situation that is leading HR to offer benefit options that appeal to a wide range . Co-signers were most likely college students themselves and understand what it is like to be a college student. Joaquin is offered vocational training that will cost $3,000 but will make him eligible for a promotion. True b. c. benefit. equity bonds $36,490.25. c. a. Simon bought a computer and made monthly payments. Since Zoe has a past bankruptcy, she will end up paying a higher interest rate. c. If an employer wants the employee to work more hours in a week, the result is a larger paycheck. $995.60 They are payable for more than 12 months. subsidized Stafford loan The loan term is four years, and her payments are $819.20 per month. Which statement describes an hourly wage job? $4,547.02 to determine if the customer is likely to pay back the loan, to determine if the customer is likely to pay back the loan, Before applying for a credit card, Jacob examines his credit report. d. b. $505.79. The Board amended the accounting for multiemployer plans and group plans in December 2004. the quantity products produced c. equity in a home increases the homeowner's net worth. c. Simple interest is paid on large, long-term loans, while compound interest is paid on small, short-term loans. c. Checking accounts are processed immediately so customer and bank records always match. a. She must be sure there is at least $135 in her bank account for the purchase. d. hourly wage. bank. $46.41. city agency. Riley reads an agreement on the first page of her policy which includes a list of losses that will be covered by the insurer. The 25% discount is better; it saves $75 more. a. a. a money market account a. income d. Tuition is the price of attending classes at a school. a. She should take the position that has the lowest cost of living. Research only the company offering the highest salary. In order to complete a FAFSA, you must submit information about grades (blank 2) Yes, the world's stock markets are coordinated exchanges, and they are dependent on one another. These benefits are given for retirement like the life insurance, health insurance which makes the life of employee easier after retirement. In addition to federal income tax, many people also pay Select two options x2 4 = 0 x2 = 4 3x2 + 12 = 0 4x2 = 16 2(x 2)2 = 0. A mortgage is a legal agreement between a borrower and a She should check her own records to see if she made a mistake. She also wants to use the money in her account to pay for her expenses. An index measures market performance. If Reg makes a monthly payment of $773.89, which of the following was his down payment? What must Freya consider before using her debit card? e. proof of address, a. identification card d. A borrower with bad credit is likely to be charged making sure she has a positive credit history d. Scholarships can be awarded for various reasons, but federal grants are usually based on a student's financial need. b. checking account Employee benefits are the total income you receive over your lifetime. Round all dollar values to the nearest cent. 175,760 a. False False Defined contribution plans ultimately transfer retirement income risk from the employer to the employee. However, the cost of health insurance benefits must be included in the wages of S corporation employees who own more than two percent of the S corporation (two percentshareholders). c. $60 810,000 Each loan had a principal of $5,500, an interest rate of 7.5% compounded monthly, and a duration of ten years. a. $31,616.16 d. automatic withdrawal. c. b. Most students are young enough not to have much of a credit score or credit history, so a second party such as a parent or guardian can establish security of payment. d. If Kanya uses the credit card and pays the full balance during the billing cycle, she will spend $25.20 less than paying cash for the laptop. e. proof of her address The auditor provides services to employee benefit plans sponsored by governmental entities. d. d. $6.90. a. address Toby plans to pay off each loan in monthly installments, starting from his graduation. Can I make payments on time and avoid late fees? $36.40 facing increased probability of accidents, falling into debt if faced with a serious problem. $63.52, At the beginning of each of her four years in college, Miranda took out a new Stafford loan. b. tipping. Which will most likely help her get the lowest interest rate? Borrowers taking a balloon payment mortgage most likely e. Should I talk to a consumer credit counseling service? a. utilities Reg has just purchased a new car. The Department of Labor's Health Benefits Under the Consolidated Omnibus Budget Reconciliation Act (COBRA) provides information on the rights and protections that are afforded to workers under COBRA. It's only important to track large amounts in personal records. Which describes the difference between simple and compound interest? 456,976 Why is compound interest preferable to simple interest? Seek the help of the Department of HHS. She will have $1.84 left over. $10,393.82 c) Premiums are not deductible to the business. a. d. They are available to any student who meets lending standards, regardless of financial need. $860, What is one cost of avoiding insurance? might go down. c. local income tax b. high school diploma B. Besides helping employees, offering fringe benefits helps employers tremendously . Which statement is true? b. d. $6,720, Georgia's gross pay was $35,600 this year. a. budget Byron gives his credit card number to a telephone solicitor, but only after getting the person's name. Joaquin is trying to decide whether to get the training or put the money in savings for retirement. b. are always less expensive than using a credit card c. Companies take advantage of the demand to make people spend more money on excess products. b. If letters cannot be repeated and the password must end with a number, how many possibilities are there? $315 a. to pay interest if he does not pay in full by a certain date, to receive a bill at a later date Check all that apply. She should take the position that offers the largest salary. c. salary c. Obtain a credit card to pay for a refurbished computer. a. c. She wants to get the lowest interest rate possible. If this person invested this total amount in an account paying simple interest at the rate of 2.5%, how much money would have accumulated in interest by the time the mortgage is paid off?