Lucky Louie Has the Following Cash Inflows and Outflows: $500

question 55

Multiple Choice

Lucky Louie has the following cash inflows and outflows: $500 rent, $200 car payment, $100 car repair, $100 discretionary purchases, $300 food, $150 electric bill, $3,500 monthly salary after deductions for tax, etc., $200 cell phone, $400 repayment of loan to dad, and $500 planned spending on weekend fun. What is Lucky's net cash flow?

• A) $1,050
• B) $200
• C) $1,150
• D) Not enough information regarding paycheck

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Definitions:

Injunction

A court order requiring an individual or entity to do or cease doing a specific action.

Old English Common Law

The body of legal principles that originated from the early unwritten laws of England, forming the basis of the common law legal system.

Court Order

A directive issued by a court or judge requiring an individual or entity to perform or cease performing specific acts.

Specific Performance

A legal remedy requiring a party to perform a specific act, usually fulfilling contractual duties, as opposed to paying damages.