PLEASE HELP ME ASAP!!!!!!!!!!!
31. In order to effectively manage money, you need:
a. A computer
b. An online checking account
c. A budget
d. A high paying job
35. Which statement is not true about extended warranties?
a. Most warranties are about 50-60% commission.
b. Only 12% of the warranty covers the statistical probability of the item breaking.
c. You are better off to self-insure through your emergency fund.
d. Warranties are worth the cost.
36. What is the primary difference between allowance and commission?
a. Allowance is paid regardless of the work that gets done.
b. Commission is paid regardless of the work that gets done.
c. Allowance is more apt to teach a better work ethic.
d. All of the above
I'll be glad to check your answers.
31.b
35.c
36.b
All of your answers are wrong.
Please go back and read your book.
I have c for the answer on 31.
Right. 31. c
I don't understand why 35 isn't c.
35 asks which is NOT true.
I don't know what your book says, but most people I know don't consider an extended warranty to be worth the cost. Very little happens to a product after the initial warranty expires. As I told a Sears salesman years ago, I buy from Sears because I expect the product to last a long time.
All my book talks about is home warranties.
Chloe has a $2,500 credit limit on her credit card and has charged $1,295.19 to her account. There is a 1.5% finance charge on the $1,295.19. How much must Chloe pay to clear her account?
31. In order to effectively manage money, you need:
The correct answer is c. A budget.
To effectively manage money, having a budget is crucial. A budget helps you plan and allocate your income towards various expenses, savings, and financial goals. It allows you to track your spending, prioritize your expenses, and make informed financial decisions. While having a computer and an online checking account can be helpful tools in managing money, they are not necessary prerequisites. Additionally, a high paying job may provide more financial resources, but effective money management is not solely reliant on income level.
35. Which statement is not true about extended warranties?
The correct answer is d. Warranties are worth the cost.
To determine the correct answer, let's evaluate each statement:
a. Most warranties are about 50-60% commission.
This statement is true. Many extended warranties have high commission rates, meaning a significant portion of the warranty cost goes towards sales commissions rather than actual coverage.
b. Only 12% of the warranty covers the statistical probability of the item breaking.
This statement is also true. Studies have shown that only a small percentage of extended warranties provide coverage that aligns with the statistical probability of an item breaking or malfunctioning.
c. You are better off to self-insure through your emergency fund.
This statement is true. Instead of purchasing extended warranties, it is often more financially prudent to set aside money in an emergency fund. If an unexpected expense arises, you can use funds from your emergency fund to cover the cost.
d. Warranties are worth the cost.
This statement is not true. Based on the previous statements, extended warranties are generally not worth the cost due to high commission rates and the limited coverage they offer. It is often more cost-effective to rely on self-insurance through an emergency fund.
36. What is the primary difference between allowance and commission?
The correct answer is a. Allowance is paid regardless of the work that gets done.
To understand the primary difference between allowance and commission, let's evaluate each option:
a. Allowance is paid regardless of the work that gets done.
This statement is true. An allowance is typically a set amount of money given regularly to a person, often a child, regardless of whether they perform any tasks or work.
b. Commission is paid regardless of the work that gets done.
This statement is not true. Commission refers to a payment or percentage of a sale, usually given to employees or agents as a reward for their performance and contribution to generating sales.
c. Allowance is more apt to teach a better work ethic.
This statement may be subjective and open to interpretation. Allowance might not necessarily be directly related to teaching a work ethic as it is not contingent upon work performance.
d. All of the above.
This statement is not true. Only option a accurately describes the primary difference between allowance and commission.