ICEV review 1-25 question and answers graded A+ 2023 verified

ICEV review 1-25 question and answers graded A+ 2023 verifiedWhich of the following is the process of paying off a loan over time with regular, equal payments? - correct answer Amortization Which of the following is an example of a tangible asset? - correct answer Bond Which of the following types of interest rate fluctuates over time as market interest rates change? - correct answer Variable Which of the following is an amount of money which can be offset against a tax liability owed to the government ? - correct answer Tax credit Which of the following is a portion of ownership in a single corporation? - correct answer Stock Which of the following loan/credit types require a lien on an asset of the borrower as a guarantee? - correct answer Collateralized loan Which loan should someone pay off first? - correct answer Loan with the highest interest rate Which of the following equations calculates net pay - correct answer Gross pay - deductions = net pay Which of the following is an expense which can vary in amount from month to month ? - correct answer Variable expense An individual has total assets of $120,00 and total liabilities of $80,000. What is he net worth? - correct answer $40,000