Financial planning focuses on long-term security

Assignment Help Financial Management

Reference no: EM131853633

1. The saving component of financial planning focuses on long-term security and includes:

A- A realistic budget for your current financial situation

B- Minimizing transportation expenses through careful planning

C- A regular savings plan for emergencies

D- A current will

E- Bankruptcy counseling

2. Descendant, an attorney using the cash method of accounting, who has a $100,000 account receivable for services, dies. Who is taxed on the income, when are they taxed, and what is the character of their gain in the following circumstances

a) The receivable is collected by Decedent’s estate.

b) The receivable is transferred by decedent’s estate to creditor to satisfy the state’s debt to creditor

c) The receivable is distributed to decedent’s child by the estate and is collected child

d) Same as (c) , above, except that prior to the collection of the receivable, Child dies and the receivable is collected by child’s estate

Reference no: EM131853633

Questions Cloud

What would be your total real return on investment : what would be your total real return on the investment?

Calculating real returns and risk premiums : You’ve observed the following returns on Crash-n-Burn Computer’s stock over the past five years: What was the average real return on Crash-n-Burn’s stock?

Well-diversified portfolio with standard deviation : What is the expected return on a well-diversified portfolio with a standard deviation of 8.8 percent?

Make level annual year-end payments to sinking fund : The borrower will make level annual year-end payments to a sinking fund earning 6%. The net interest paid during the 6th installment is

Financial planning focuses on long-term security : The saving component of financial planning focuses on long-term security and includes:

Assume social security is still solvent when you retire : Assume Social Security is still solvent when you retire. Assume the appropriate discount rate is 5%.

What are the tax consequences to taxpayer in each year : What are the tax consequences to Taxpayer in each year? Would your result in (a) above, be altered if taxpayer is an accrual method taxpayer?

Discussion of your eight years of the simulation game : Please provide an example of the executive Summary of the business strategy game. This should be a discussion of your eight years of the simulation game.

Calculate the yield to maturity on semiannual bond : Calculate the yield to maturity on a 6% semiannual bond that matures in 5 years, if the bond sells for $96.

User Account

All Pages