quiz
a personal blance sheet reports your income and expenses
false
current liabilities are amounts that must be paid within a short period of time, usually less than a year
true
the current financial position and net worth of an individual or family is the best presented with the use of a
Balance sheet
a family has assets of $100,000 and liabilities of $75,000. their debt (or debt to net worth) ratio would be
3
a familys monthly living expenses are approximately $4000 and fairly predictable. recommended emergency phone for this family would be in the range of
$12,000 to $24,000
individual retirement account would be an example of a __ asset
investment
assets are $100,000. Their liabilities are $80,000. Their network is__
$20,000
A family has bank accounts for $10,000. Their monthly expenses are $5000. The liquidy ratio is.
2