Your financial statements reflect your current financial condition and how much you earn and spend in a given time period. The two most useful statements are the balance sheet and the cash-flow statement. One presents a summary of assets and liabilities at a certain date and the other shows the income and spending of an individual or family for a period of time. Areflects an individual's or family's assets and liabilities on a specified date.
Your net worth is reflected on your balance sheet. Complete the net worth formula by selecting the correct term for each piece of the equation that follows.
Net Worth
(Your true financial wealth)
(What you own)
(What you owe)
Consider the following example:
Henry Sekkide owns a home valued at $200,000. The balance due on his mortgage is $150,000. Henry's vehicle is worth $18,000 and the outstanding balance on his car loan is $4,500. All bills are paid and Henry's only bank balance shows that he has $5,000 in his account. What is Henry's net worth?
a. $68,500
b. $63,500
c. $50,000
d. $223,000

Kimberly has been jonah in preparing his personal income tax forms for a couple of years. jonah's boss recommended kimberly because she had done a good job setting up the company's new accounting system. jonah is very satisfied with kimberly's work and feels that the fees she charges are quite reasonable. kimberly would be classified as a(n) (a) independent auditor (b) private accountant (c) public accountant (d) accounting broker

Reliability and validity reliability and validity are two important considerations that must be made with any type of data collection. reliability refers to the ability to consistently produce a given result. in the context of psychological research, this would mean that any instruments or tools used to collect data do so in consistent, reproducible ways. unfortunately, being consistent in measurement does not necessarily mean that you have measured something correctly. to illustrate this concept, consider a kitchen scale that would be used to measure the weight of cereal that you eat in the morning. if the scale is not properly calibrated, it may consistently under- or overestimate the amount of cereal that’s being measured. while the scale is highly reliable in producing consistent results (e.g., the same amount of cereal poured onto the scale produces the same reading each time), those results are incorrect. this is where validity comes into play. validity refers to the extent to which a given instrument or tool accurately measures what it’s supposed to measure. while any valid measure is by necessity reliable, the reverse is not necessarily true. researchers strive to use instruments that are both highly reliable and valid.

Paddock pools constructed a swimming pool and deck for the jensens' home. paddock installed the wrong trim on the pool. it would cost $2800 to change the trim-one-fifth of the total cost of the pool. the jensens refuse to pay anything for the pool. the paddock's best defense is: (a) duress (b) substanial performance (c)mistake (d) failure of conditions