Current liabilities are those that can typically be paid off in full within twelve months. TRUE FALSE 2.Insolvency results from taking in more than you consume financially. TRUE FALSE 3.Net income is used in calculating one's net worth. TRUE FALSE 4.Before you can hope to achieve your financial goals, you will need to first measure your current financial health and develop a plan and a budget. TRUE FALSE 5.In some cases, insolvency can lead to bankruptcy. TRUE FALSE 6.An income statement tracks the amount of money you have coming in and going out over some period of time, like a month or a year. TRUE FALSE 7.As long as a financial planner is certified you need not worry about his ability to provide you with the correct financial plan for your situation. TRUE FALSE 8.A debt ratio is aimed at determining if you have adequate liquidity to meet emergencies. TRUE FALSE 9.Having negative net income every once in a while, is not such a bad thing as long as you have planned for it. TRUE
1.Current liabilities are those that can typically be paid off in full within twelve months.
TRUE
FALSE
2.Insolvency results from taking in more than you consume financially.
TRUE
FALSE
3.Net income is used in calculating one's net worth.
TRUE
FALSE
4.Before you can hope to achieve your financial goals, you will need to first measure your current financial health and develop a plan and a budget.
TRUE
FALSE
5.In some cases, insolvency can lead to bankruptcy.
TRUE
FALSE
6.An income statement tracks the amount of money you have coming in and going out over some period of time, like a month or a year.
TRUE
FALSE
7.As long as a financial planner is certified you need not worry about his ability to provide you with the correct financial plan for your situation.
TRUE
FALSE
8.A debt ratio is aimed at determining if you have adequate liquidity to meet emergencies.
TRUE
FALSE
9.Having negative net income every once in a while, is not such a bad thing as long as you have planned for it.
TRUE
FALSE
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