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Teams
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Score
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15
×
Does printing more money have any effect on inflation?
Yes, it increases overall inflation.
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Check
Okay!
Check
15
×
Do you have to file tax return regardless of your income?
No, if you have no income, you don't file.
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15
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What are the usual consequences of non-sufficient funds situation?
Substantial fees, imposed by the bank, and damage to your credit score.
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trap
No points!
Oops!
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star
Double points!
Okay!
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fairy
Take points!
5
10
15
20
25
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thief
Give points!
5
10
15
20
25
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trap
No points!
Oops!
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fairy
Take points!
5
10
15
20
25
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rocket
Go to first place!
Okay!
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thief
Give points!
5
10
15
20
25
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banana
Go to last place!
Oops!
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fairy
Take points!
5
10
15
20
25
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fairy
Take points!
5
10
15
20
25
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banana
Go to last place!
Oops!
15
×
What can causes a non-sufficient fund situation?
Not having enough money in your account to cover a check which you wrote.
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15
×
What is the third party check?
It's a check which you give to somebody after endorsement.
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15
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Jack and Jill file tax return jointly. Standard deduction is $24,800, itemized deduction $32,000. Which number should they use on their tax return?
They should use their itemized deduction, because it is larger of the two.
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15
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Bob and Mary file tax return jointly. Standard deduction is $24,800, itemized deduction $15,500. Which number should they use on their tax return?
They should use their standard deduction, because it is larger of the two.
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15
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Give an example of an intangible asset.
Goodwill (reputation), brand names, trademarks, licences, patents
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15
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Give some examples of recurring revenues.
Paychecks, alimony, social security benefits.
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15
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Give your definition of a business.
Economic activity intended to produce profit.
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15
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What is the difference between tangible and intangible assets?
Tangible you can see, touch, move. Intangible- non-material, invisible.
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15
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Which items must be included in your monthly budget?
Recurring expenses and revenues (happening on a regular basis).
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15
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Give an example of a tangible asset.
building, car, computer, furniture, cash
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