The exchange rate that represents the number of units of a home currency that is required to purchase one unit of a foreign currency is referred to as a(n) ________ quote

A) forward
B) direct
C) market
D) indirect

Answer: B

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Which of the following statements is true of voluntary transfers of personal property?

A) All transfers of ownership require formal registration with a government agency. B) A promise to make a gift is enforceable in court. C) Once made, a gift is an irrevocable transfer. D) For a valid gift to occur, the donor must accept the gift.

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Which of the following statements is false?

A) Self-employed individuals can delay paying taxes until the end of the tax year. B) You can reduce withholding of federal income taxes by refilling a W-4 with your employer. C) You can receive a tax refund if you have excess amounts withheld for federal taxes. D) Having an excessive amount withheld for federal taxes represents poor financial planning.

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