Which of the following measures your financial condition so you can establish realistic financial goals and evaluate your progress toward those goals? Budgets Financial plans Personal financial statements Financial planners Assets fall into four broad categories including liquid assets, investments, real property and IRAs and 401(k) plans. cash. personal property. loans. Which of the following is a long-term liability? Taxes Insurance premium Repair bills Education loans Stephen paid $20, 000 for his car 3 years ago. He still has 24 monthly payments of $400 left to pay, and currently the balance on his auto loan is $9, 000. He estimates the market value of his vehicle to be $13, 000. What is his equity or ownership position in his car? $11, 000 $4, 000 $3, 400 $8, 000 Stephen paid $20, 000 for his car 3 years ago. He still has 24 monthly payments of $400 left to pay, and currently the balance on his auto loan is $9, 000. He estimates the market value of his vehicle to be $13, 000. What is his equity or ownership position in his car? $11, 000 $4, 000 $3, 400 $8, 000 Which of the following would not be included on your income and expense statement? Investment income Car payment Home value Gross salary The financial ratio that shows how long you could continue to pay your bills in the event of income loss is the debt service ratio. savings ratio. solvency ratio. liquidity ratio