Questions 29-36

Question Completion Status: QUESTION 29 Itemized deductions reduce taxable income. Whichof the following are not legitimate itemized deductions? Mortgage interest expenses Sales Tax State income tax Social Security Tax QUESTION 30 Filing taxes requires you to address which of the following topics? Filing status Gross income Exemptions All of the above QUESTION 31 Contributions to ain) income tax are not tax deductible, but earnings inside the account are tax sheltered and qualified withdrawals are free from OIRA Roth IRA 401K 4036 QUESTION 32 You are thinking about buying stock in a company with very high revenue. Should you buy the stock? Yes, a high revenue indicates that the company is selling many products Yes, a high revenue indicates that management is doing a good job Not necessarily...revenues may be high, but what about profits No, a high revenue can indicate the company is growing to fast QUESTION 33 How long and at what cost you can convert an investment into cash Current Assets Economics Liquidity Time Value of Money QUESTION 34 Investing in a sector fund is a good way to diversify your stock holdings. True False QUESTION 35 Profit (sales minus purchase price) on an investment held for more than one year Profit Economics Liquidity Capital Gains QUESTION 36 How many months of living expenses should most people have available in savings? O 24 12 6