Unit 9- Money Management Part 3 Question Preview (ID: 33431)


Test Review Part 3. TEACHERS: click here for quick copy question ID numbers.

What is the appreciation of a car that was worth $5,000 in 2011 and $2,000 in 2012?
a) $0
b) $2,000
c) $3,000
d) $5,000

What is the depreciation of a car that was worth $5,000 in 2011 and $2,000 in 2012?
a) $0
b) $2,000
c) $3,000
d) $5,000

What is an operating cost?
a) what you pay to keep something working and in good condition
b) what you paid for an asset
c) the value of an asset after it has fully depreciated
d) the loss of value of an asset

What is scrap value
a) what you pay to keep something working and in good condition
b) what you paid for an asset
c) the value of an asset after it has fully depreciated
d) the loss of value of an asset

What is depreciation?
a) what you pay to keep something working and in good condition
b) what you paid for an asset
c) the value of an asset after it has fully depreciated
d) the loss of value of an asset

What is a historical cost?
a) what you pay to keep something working and in good condition
b) what you paid for an asset
c) the value of an asset after it has fully depreciated
d) the loss of value of an asset

Examples of operating costs for a vehicle might be:
a) Insurance
b) Gas , tires and repairs
c) registration
d) all of the above

What is income?
a) the things on which you spend money
b) the money you earn
c) the money left over
d) the money you are saving

What are some examples of liabilities?
a) bank accounts
b) retirement plan
c) credit card debt
d) your car

What is the time value of money?
a) how long it takes for an investment to double
b) calculated on the current savings balance (the original deposited principal and future deposits) as well as interest
c) calculated on a current savings account balance
d) the money you have now is worth more than the money you will get in the future

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