Transcribed Image Text
Which of the following statements is/are correct?1. The principal but not the interest to be paid this year on a30-year mortgage is properly classified on the Statement ofFinancial Position as a current liability.2. A CD with a maturity of 9-months is classified as aninvestment asset on the Statement of Financial Position.Select one:a. a. 1 only.b. b. 2 only.c. c. Both 1 and 2.d. d. Neither 1 nor 2.Question 12Not yet answeredPoints out of 1.00Flag questionQuestion textWhich of the following statements is/are correct?1. Net worth represents the personal equity that the individualhas in his assets and can never beless than zero.2. If Lisa purchased a car using 30% cash and 70% debt, her networth would increase by 30%.Select one:a. a. 1 only.b. b. 2 only.c. c. Both 1 and 2.d. d. Neither 1 nor 2.Question 13Not yet answeredPoints out of 1.00Flag questionQuestion textWhich of the following statements is/are correct?1. Property titled Joint Tenants with Rights of Survivorship(JTWROS) can only be owned bymarried couples.2. Property titled Tenants by the Entirety can only be owned bymarried couples.Select one:a. a. 1 only.b. b. 2only.c. c. Both 1 and 2.d. d. Neither 1 nor 2.