Jeopardy review

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Jeopardy review

  1. 1. Consumer Consumer FinancialProtection Potpourri Bill of Budgeting StatementsAgencies Rights 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500
  2. 2. 1-100 qThis third party companymaintains an objective viewfor consumers, but theirservices aren’t free.
  3. 3. 1-100 aWhat is Consumer Reports
  4. 4. 2-100 qThis is owned by a largercompany and usuallyassociated with a logo, slogan,mascot, or phrase.
  5. 5. 2-100 aWhat is a brand
  6. 6. 3-100 qThis is the first right ofconsumers.
  7. 7. 3-100 aWhat is the right to beinformed.
  8. 8. 4-100 qThis refers to money set asidefor a specific expense eachmonth, not necessarilysomething you get from yourparents every week.
  9. 9. 4-100 aWhat is an allowance
  10. 10. 5-100 qThis common financialstatement reports on incomesand expenditures.
  11. 11. 5-100 aWhat is an income statement
  12. 12. 1-200 qThis government‘administration’ oversees newmedicine entering the market
  13. 13. 1-200 aWhat is The Food and DrugAdministration
  14. 14. 2-200 qWhen shopping by these, youare looking for the lowest costper weight or volume
  15. 15. 2-200 aWhat are unit prices
  16. 16. 3-200 qConsumers uniting to demand fairtreatment is known as this.
  17. 17. 3-200 aWhat is the consumer movement
  18. 18. 4-200 qThis type of expense changesfrom month to month. It is a littlebit harder to budget for.
  19. 19. 4-200 aWhat is a variable expense
  20. 20. 5-200 qThis statement measures theinflow and outflow of monies fora family or business
  21. 21. 5-200 aWhat is a statement of cash flows
  22. 22. 1-300 qThis is one of the things thatconsumer agencies protectagainst. It is similar to falseadvertising.
  23. 23. 1-300 aWhat is fraud
  24. 24. 2-300 qThis type of record provesownership to a house and isimportant to keep with otherfinancial records.
  25. 25. 2-300 aWhat is a deed
  26. 26. 3-300 qThis is a form of a guaranteedsafety that is usually not writtenor advertised on a package
  27. 27. 3-300 aWhat is an implied warranty
  28. 28. 4-300 qThis is similar to a discrepancyand can happen when a person orfamily spends significantly more orless than they planned.
  29. 29. 4-300 aWhat is a budget variance
  30. 30. 5-300 qAfter making some financialstatements, you could calculatethis for yourself, which is totalassets minus total liabilities. Mr.Mursewick’s is very negative.
  31. 31. 5-300 aWhat is Net Worth
  32. 32. 1-400 qThis organization hasregional offices that will fieldand investigate consumercomplaints. It is abbreviatedBBB.
  33. 33. 1-400 aWhat is the Better BusinessBureau
  34. 34. 2-400 qWhen a group of consumers iswronged by the same companydue to similar circumstances,they can come together as agroup and file one of these.
  35. 35. 2-400 aWhat is a class action lawsuit
  36. 36. 3-400 qThis type of guarantee iswritten down and statesexactly what the company willstand behind.
  37. 37. 3-400 aWhat is an express warranty
  38. 38. 4-400 qThis type of expense, like amortgage payment or rentdoes not change from monthto month.
  39. 39. 4-400 aWhat is a fixed expense
  40. 40. 5-400 qThis statement lists assets onthe left side and liabilities onthe right side, just like theyappear in the accountingequation.
  41. 41. 5-400 aWhat is a balance sheet
  42. 42. 1-500 qWhen shopping, consumersshould be wary of this. Alsocalled a purchase of aproduct on a whim.
  43. 43. 1-500 aWhat is an impulse buy
  44. 44. 2-500 qThis is how the jury initiallydecided how much money toaward Stella Liebeck aftershe spilled coffee on herself
  45. 45. 2-500 aWhat is they doubled the oneday revenue of McDonald’scoffee sales (answers mayvary)
  46. 46. 3-500 qThis third consumer right wasnot violated for StellaLiebeck. She could haveeasily gone to Burger Kingthat morning.
  47. 47. 3-500 aWhat is the right to choose
  48. 48. 4-500 qThis is a place where people cansave and budget money forwhen they are done working inlife. It is a tax-deferred account.
  49. 49. 4-500 aWhat is an IRA or IndividualRetirement Account
  50. 50. 5-500 qWhen making financialstatements, this occurs whentwo records do not agree.
  51. 51. 5-500 aWhat is a discrepancy

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