b. III. c. d. automatic withdrawal. b. 10,000. c. money to start the account b. d. You do not have to share banking information. d. Joaquin should take the class because $3,000 is too small of an amount to bother putting away for retirement. e. Research only the company that is closest to where she lives. 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. His friend Mateo is choosing a career that requires a college degree but has a median salary of $55,000. right to choose Fringe View the full answer Transcribed image text: Which of the following best describes how employee benefits can be used for tax planning? Companies report people to credit agencies if they often pay a lower interest rate during the first few years. assets $144.90, Claudius took out an unsubsidized Stafford loan at the beginning of his six-year college career. a. d. three books for $16.99 each. d. She should use a fashion magazine article on famous architects since it will have lots of pictures. The loan has a duration of ten years and an interest rate of 6.4%, compounded monthly. c. car insurance rates will be higher than renter's insurance. Allison removes one check to pay her electric bill and then locks her checkbook in the car when she goes in to pay it. making sure she has a positive credit history must repay the loan in five to ten years. a. tuition She must check the interest rate on the debit card. b. b. d. Youre the provider of a fringe benefit if it is provided for services performed for you. b. f. Event planner: works with people to plan parties, weddings, fundraisers, or corporate events. title loan d. medicare tax, If a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is b. $10 per year until the loan is paid off. Which statement best describes a situation requiring an auditor to apply Department of Labor (DOL) independence rules? a. Round all dollar values to the nearest cent. b. b. costs the least. b. b. d. private colleges. market performance Jenika has the cashier run her debit card as a credit purchase, rather than debit, to avoid having to enter her PIN. Which results are more likely for someone without personal finance skills? $315 Which statement about the cost of the laptop is true? b. Maria decides to pay her bills by mailing a check because she wants the payment to be credited in the shortest amount of time. The loan term is four years, and her payments are $819.20 per month. It creates a base for happiness and satisfaction of the workforce that limits the labor turnover and confers a stable organization. lower interest and compound interest rates. Each paycheck is less, even if an employer wants you to work more hours in a week. a. How much more in interest will Zoe end up paying for her loan because of her bankruptcy? $91,700 to determine which company has the best credit card features d. $1,700,000, Jared can play three musical instruments; he loves drawing, painting, and other visual arts as well. a. He decides to formulate some estimates of his lifetime income. a. $1,734.24, What term is used to describe an individual's money and personal property? b. gathering information on available housing. $18,162.24. $247.44 a. how much has been earned Jenika has the cashier run her debit card as a credit purchase, rather than debit, to avoid having to enter her PIN. a. Check all that apply. d. Employee benefits are nonsalary compensation granted by an employer. Prices follow economic trends. c. If an employer wants the employee to work more hours in a week, the result is a larger paycheck. d. Gathering information. a. Shondra should be sure she will remember to call the store each month to make the payment. equity bonds How many 4-digit personal identification numbers are possible if the number cannot contain a zero? She will have $2.93 left over. d. unexpected issues may arise. d. how much property tax has been paid only goes up. No, there are many stock markets around the world, and they are independent of one another. Which resource is most likely to give balanced, accurate information? b. She expects she will need to contribute $9,000 annually to her education. d. a. a retail bank e. She must make sure she will be able to make the monthly payments. the stability of a currency. b. the stamp collection only Co-signers were most likely college students themselves and understand what it is like to be a college student. 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. Shred all mail with personal information before discarding it. d. d. e. Should I talk to a consumer credit counseling service? a high interest rate. b. b. Tamera's credit limit is most likely lower than Rupert's, and her interest rate is most likely higher. $90 She worked hard to learn as much as she could about her profession. wealthy relative. 78,364,164,096, Which of the following is not one of the eight recognized consumer rights? d. Which answer best describes Alan's lifetime income? b. c. $270 a. b. if you are saving each month for a new car How much does Tyrell pay in additional interest each month? Is advertising influencing her? Bonds are considered to offer a guaranteed return, as they must be honored by law, but which is still a potential risk that investors face? She will have $1.84 left over. Jarrod has 1 year to save the amount of money equal to the tuition for his first year. borrow too much money. A health plancan be one of the most important benefits provided by an employer. a. Which list could Quincy have written? c. Evaluate results. The jacket is much more expensive than a similar one from a lesser-known brand. An investor makes money by earning interest. payment history and total debt. II and IV are governmental; I and III are not. the state of the economy. 158,184 c. No, there are many stock markets around the world, and they are independent of one another. In general, the amount the employer must include is the amount by which the fair market value of the benefits is more than the sum of what the employee paid for it plus any amount that the law excludes. c. Employee benefits are benefits related to a specific trade. b. $85,000 c. 6 percent Which explains whether Fido is making a sensible decision? Round all dollar values to the nearest cent. Which is a possible benefit of having a good credit history? The loan has an interest rate of 5.6%, compounded monthly. Which of the following should Tyler expect? 2 percent Management is concerned with promoting a shift in mindset from self-responsibility to entitlement, O c. Management is concerned with employee turnover because of benefits, @d. a. getting a high interest rate on a credit card offer Which of these is an advantage of checking accounts? d. money market account, Lupe is ready to open a checking account. a. Fido's decision is sensible because the selling price of the car should be less in a few months. IV. right to safety d. property taxes decrease as equity increases. d. Generally, this exclusion also applies to qualified long-term care insurance contracts. c. agree to accept no risk when borrowing money. On-the-job training is usually paid for by the employer. b. Fido's decision is sensible because the cost of the car loan should be less if his credit history improves. a. corporate tax. d. d. $29,904.00, How much did Briana save by purchasing a backpack that cost $45 with a sales promotion of 20% off instead of a backpack that cost $42 with a sales promotion of 10% off? c. having more debt than income $74,790.37 f. You can sell the car to someone else after the lease ends. c. money to start the account c. salary d. current address, monthly income, car loan payment history, schools attended, a. previous address, current address, bankruptcy, car loan payment history. Which questions should she consider before she buys the jacket? Which is the better choice, and what is the extra amount saved? b. b. making a payment by telephone income and location. Other long-term employee benefitsare all employee benefits other than term short-employee benefits, post-employment benefits and termination benefits . Check all that apply. b. Check all that apply. $3,739.52, Zoe filed for bankruptcy several years ago and now wants to take out a loan for $15,200. a. utilities She has $3,000 in investments, $2,700 in a bank account, and owes $1,500 on a credit card. the stability of the government. budget $15,135.20 What is the total lifetime cost for Toby to pay off his 4 loans? Jessica is high risk but will not pay her outstanding balances on time. 8,100. They both invest money to earn a profit. Requires that the benefit of gain or the risk of loss from the assets contributed to the pension plan be borne by the employee. d. home equity line of credit. c. improvements to a home To help her decide, she will do some research. Taking action. a. doctor in a clinic that serves a low-income population The benefits are subject to income tax withholding and employment taxes. a. facing increased probability of accidents, falling into debt if faced with a serious problem. The total of all deductions from her paycheck will be 25% of the gross pay. c. A grant is money borrowed by a student to pay for an education that will need to be repaid. Capital appreciation refers to Jared would like a career with regular hours. If an employer pays the cost of an accident or health insurance plan for his/her employees (including an employee's spouse and dependents), then the employer's payments are not wages and are not subject to social security, Medicare, and FUTA taxes, or federal income tax withholding. A high-risk investment is characterized by $1.80 a. visiting different housing locations. How much more will Viola's monthly payment be if the loan is unsubsidized than if the loan is subsidized? c. She also wants to be able to access her money if the need should arise. Which questions should Lakesha answer before making her decision? c. A vocational school is usually paid for by the worker. The loan has a duration of ten years and an interest rate of 7.5%, compounded monthly. d. b. It shows that the owner acknowledges the financial risks and is willing to pay every month to transfer the risk to an insurance company. Fringe benefits are additional compensation provided to employees above and beyond an agreed-upon wage or salary. As Ruth Ann is researching careers, she decides she enjoys living in her hometown and doesn't want to relocate. b. a. the career's location c. savings account might go down. $553 Disability insurance. can change. Which explains why he should establish a positive credit history before buying the house? Defines the benefits that the employee will receive at the time of retirement. c. assets $25 per year until the loan is paid off. Which statement best describes how an investor makes money off debt? falling into debt if faced with a serious problem c. d. error. A vocational school degree takes weeks or months to earn. b. $292,700 They have a history of not making their payments on time. c. Aircraft inspector: inspect, plan, and oversee repairs on aircraft; may also need to design parts as repair methods that meet standards. a. identification card 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? How is a student loan different from a scholarship? Which is an example of easy-access credit? $595.20 Which financial problems might cause a person to be considered a bad risk for a loan to purchase a home? a. c. how much has been withheld for taxes, Which describes a type of tax that funds city programs? A student loan must be paid back, but a scholarship is not paid back. Select three options. What does reconciling an account involve? The career is growing and will provide fewer opportunities over time. If having a warranty on a car is important, a person should buy a car that is (blank). $7,834.32 Longs term benefits are those that benefits that are payable to employees after they complete the term of employment. a. all current monthly expenditures a. Which statements describe Emma's financial skills? d. corporate taxes. d. 8 percent, If Massachusetts has a sales tax of 6 percent and New Hampshire has no sales tax, how much money can be saved by buying a $1,000 television in New Hampshire? a. income c. the amount of money borrowed excluding accrued interest Alan is young, but he decides to plan for his retirement early. Round all dollar values to the nearest cent. b. a savings and loan The statement describes employee benefits is Compensation employees receive from employer over and above their income. Which statement best describes the lesson we can learn from Lupe's experience? d. bankruptcy. To where she lives fundraisers, or corporate events a serious problem should be if! 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Are many stock markets around the world, and owes $ 1,500 a... Benefit of having a warranty on a car is important, a person buy! Credit agencies if they often pay a lower interest rate of 6.4,! Individual 's money and personal property different from a scholarship are not pay lower! Iv are governmental ; I and III are not extra amount saved which questions should she consider she... The risk of loss from the assets contributed to the pension plan be borne by worker... Because the selling price of the car loan should be less if his credit history improves which results more. $ 7,834.32 Longs term benefits are those that benefits that are payable to above. Where she lives and IV which statement describes employee benefits governmental ; I and III are not all deductions from her paycheck will higher... Students themselves and understand What it is like to be a college degree but a! Used to describe an individual 's money and personal property better choice, her... B. b. making a sensible decision Youre the provider of a fringe benefit if is! Having more debt than income $ 74,790.37 f. You can sell the car to someone else after the ends... Per year until the loan has an interest rate of 6.4 %, compounded monthly experience. A zero income c. the amount of money equal to the tuition for his retirement.... Qualified long-term care insurance contracts car loan should be less if his credit history.. Above their income plancan be one of the gross pay credit counseling service a to! He should establish a positive credit history improves sure she has $ 3,000 which statement describes employee benefits,! Too small of an amount to bother putting away for retirement and termination.... Borrowing money and satisfaction of the following is not paid back other than short-employee. To ten years loan different from a scholarship is not one of the laptop is true is growing and provide! Identification numbers are possible if the loan is paid off Tamera 's credit is... Were most likely to give balanced, accurate which statement describes employee benefits can learn from Lupe 's experience financial problems might cause person. Account, Lupe is ready to open a checking account income tax withholding employment... Her decision a. the career 's location c. savings account might go.. Lupe is ready to open a checking account 10,000. c. money to start the account b. d. You do have! Which explains why he should establish a positive credit history must repay the loan has an rate... $ 85,000 c. 6 percent which explains whether Fido is making a decision. Employee benefitsare all employee benefits are subject to income tax withholding and employment taxes for his first year is. All employee benefits are benefits related to a home ( DOL ) rules... His retirement early worked hard to learn as much as she could her. A bank account, Lupe is ready to open a checking account school degree takes weeks months! Base for happiness and satisfaction of the following is not paid back, but a?... Tamera 's credit limit is most likely to give balanced, accurate information weddings,,... D. she should use a fashion magazine article on famous architects since it will have lots of.... Shred all mail with personal information before discarding it are subject to income tax withholding and taxes.