Question 41.41.( TCO 6) Judith recently inherited several pieces of diamond jewelry from her aunt. This jewelry is an example of( Points: 4)
Question 42.42.( TCO 6) If Jeremiah ' s employer makes nontaxable contributions to a plan in his name and his salary is reduced by the same amount, Jeremiah has a( Points: 4)
Question 43.43.( TCO 6) Chuck owns a home worth $ 140,000, a car valued at $ 30,000, and miscellaneous assets worth $ 7,500. He owes $ 75,000 on the home and $ 12,000 on the car, and has no other debts. His retirement account, in which he is fully vested, contains $ 17,500 in mutual funds. He is insured with a $ 250,000 term life insurance policy. What is his net worth?( Points: 4)
Question 44.44.( TCO 7) The benefits of establishing a trust include the fact that( Points: 4)
Question 45.45.( TCO 7) If Barry has been named by Anderson to distribute his assets as outlined in his will and pay outstanding obligations, Barry will serve as a( n)( Points: 4)
1.( TCO 1) Suppose Debra Betts has presented you with the following information: She currently possesses a checking account with a balance of $ 850, a savings account with a balance of $ 3,000, a credit card balance of $ 300, jewelry worth $ 600, real estate valued at $ 75,000, and a mortgage on the real estate of $ 66,000. What is the total of Debra ' s assets and how could she increase her net worth?( Points: 10)
2.( TCO 2) What is the difference between a short-term capital gain and a long-term capital gain?( Points: 10)