Questions 5-12

QUESTIONS The most efficient use of the economy's scarce resources Economics Liquidity Profit Capital Gains QUESTION 6 Examples include: cash, accounts receivables, and inventory Owner's Equity Liabilities Assets None of the above QUESTION 7 Difference between revenue and cost Asset Liability Profit None of the above QUESTION 8 A liquid asset is an asset... o like a barrel of oil or a case of beer O one that can be easily sold without a loss in value that tends to appreciate greatly in value over time that is subject to wild price swings QUESTION 9 My adjusted gross income last year was 532,874. I had $3,172 in out-of-pocket medical expenses last year. My medical expense deduction be... Medical expenses cannot be deducted $3.172 $706 $2515 QUESTION 10 Federal government agency responsible for overseeing investment firms and their services FEMA SEC IRS IME QUESTION 11 The barriers to entry for opening an ice cream shop are lower than those for building a car plant True False QUESTION 12 A money market mutual fund is essentially equivalent to a bank savings account except the money market mutual fund earns a higher interest rate True False