FIN 101- midterm

If you purchase a regularly priced $30 shirt on sale and pay only $25, what will the sales tax be if the sales tax rate in your community is 7 percent? (Round answers to 2 decimal places, e.g. 52.75.) - $1.75. -$0.00. -$2.10. -$0.35.

$1.75

Eric borrows $2800 on January 1 for one year. Interest is calculated annually. He does not have to make any monthly payments, but he has to repay the entire loan plus interest on December 31 of the same year. If the loan has an annual interest rate of 5% what amount will Eric have to repay on December 31? - $2940. - $140. - $2800. - $2968.

$2940

Tula has a $7500 credit card balance that she revolves month to month. What is her minimum monthly payment if the credit card company calculates the payment based on 6% of the outstanding balance? - $450. - $5400. - $4500. - $45.

$450

Jason makes $3475 per month. He pays $785 in taxes, $690 in rent, $455 on food (which includes eating out), $235 for a car payment, $140 in gas and maintenance, and $695 in recreation every month. What is Jason's surplus or deficit? -120. - $0. - $475. - $120.

$475

Assume Dorothy earns $7.90 per hour. If she receives "time and a half" for any hours worked over 40 per week, how much will Dorothy earn if she works 55 hours this week? - $730.75. - $2691.25. - $493.75. - $2666.25.

$493.75

What is Charles's current net worth? - $62124. - $16836. - $78960. - $56300.

$62124

Sam has taxable income of $350,000. Sam's nephew Adam has taxable income of $3,500. What federal income tax rate applies to the first taxable dollar of Sam's taxable income and what tax rate applies to the first taxable dollar of Adam's taxable income? - 10% and 10%. - 10% and 37%. - 0% and 0%. - 0% and 10%.

10% and 10%

Donna invested $120000 into a startup company this year. For the first time, she received a payment from the company for $20400. What was Donna's rate of return on her investment? (Round answer to 0 decimal place, e.g. 5275.) - 15%. - 17%. - 27%. - There is not enough information to answer this question.

17%

Abed carries an average monthly balance of $600 in his checking account. If his bank charges $9.00 per month as a minimum service fee, how much in annual interest must Abed earn to cover the monthly fee? - 1.50% - 18.00% - 15.00% - 9.00%

18.00%

James earns $7500 per month. His monthly expenses include $800 in rent, $900 in recreational expenses, $400 in food, $300 in auto payments, $200 in gas and maintenance, $600 in student loan repayments, $250 in credit card payments, and $1800 in miscellaneous expenses. What is James's debt to income ratio? - 26%. - 31%. - 14%. - 15%.

26%

Raul has had a credit card since college. Overall, he has managed his credit history well, although he has occasionally made a late payment on his credit card. Given this information, which of the following FICO scores is Raul likely to receive? - 350. - 640. - 790. - 825.

640

Assuming Sandra has $2900 today, approximately how long will it take Sandra to double her money if she can earn a 9% return on her investment? (Round answers to 1 decimal place, e.g. 52.7.) - 6.5 years. - 8.0 years. - 18.2 years. - 36.4 years.

8.0 years

Kimberly, age 28, earns $4720 per month. Every month she saves $430. Additionally, she has $2880 in outstanding credit cards and makes a $240 monthly payment of these cards. What is Kimberly's approximate savings ratio? (Round answers to 2 decimal places, e.g. 52.75.) - 14.19%. - 5.08%. - 6.86%. - 9.11%.

9.11%

The difference between a bank and a credit union is as follows: - A credit union offers more products and services than a bank. - A bank depositor is known as a member whereas a credit union depositor is a shareholder. - A credit union depositor is known as a member but a bank depositor is simply a customer. - A bank shares profits with all depositors whereas a credit union shares earnings with shareholders.

A credit union depositor is known as a member but a bank depositor is simply a customer

When Ann was traveling outside the United States, she found the perfect souvenir. Unfortunately, when she went to make the purchase with her debit card, the transaction was denied. This happened because Ann had only $200 in her account, and the souvenir cost $300. Ann was disappointed and regretted having to pass on her purchase. What could Ann have done before her trip to ensure that she could spend more than what was in her account? - Added overdraft protection transfers from her savings account to her checking account. - Asked her bank to allow a direct debit for international purchases. - Traded her debit card for a prepaid card. - Added fraud protection to her account.

Added overdraft protection transfers from her savings account to her checking account

What will likely happen if Terry Ann fails to make a payment on her secured credit card? - The bank or credit union will deduct the payment directly from Terry Ann's account. - All of the answer choices are correct. - The bank or credit union may cancel the card. - The bank or credit union will deduct any fees directly from Terry Ann's account.

All of the answer choices are correct

Which of the following are included in the finance charge for a loan? - Interest charged for the loan. - Loan origination fees (the cost of creating the loan). - Annual loan account fees. - All of the answer choices are correct.

All of the answer choices are correct

Example(s) of human capital include which of the following? - Formal education. - Health. - Skill development. - All of these answer choices are correct.

All of these answer choices are correct

All of the following statements are true, except: - As your savings ratio declines, your financial flexibility decreases. - As your debt to income ratio increases, your financial flexibility expands. - As your debt to income ratio declines, your financial flexibility expands. - As your savings ratio increases, your financial flexibility increases.

As your debt to income ratio increases, your financial flexibility expands

Assume a college student is having a hard time getting approved for a credit card. What method can the student use to increase the probability of receiving a credit card? - Borrow money from a pawn shop or payday lender to establish credit. - Ask a parent to co-sign the credit card application. - Open a secured credit card with a lending institution. - Both ask a parent to co-sign the credit card application and open a secured credit card with a lending institution.

Both ask a parent to co-sign the credit card application and open a secured credit card with a lending institution

Rodriguez would like to start his own business making jewelry. If he opens his business as a sole proprietor, in which of the following events would he be personally liable? - If a customer lost a ring that he made. - If a customer sued him for using lead in a child's ring. - If his jewelry company failed to pay a debt. - Both if a customer sued him for using lead in a child's ring and if his jewelry company failed to pay a debt.

Both if a customer sued him for using lead in a child's ring and if his jewelry company failed to pay a debt.

Under current law, which of the following requests is allowed? - Both the Federal Aviation Administration requests your credit report before issuing you a pilot's license and a car dealer requests your credit report before taking you on a test drive. - A car dealer requests your credit report before taking you on a test drive. - Neither the Federal Aviation Administration requests your credit report before issuing you a pilot's license and a car dealer requests your credit report before taking you on a test drive. - The Federal Aviation Administration requests your credit report before issuing you a pilot's license.

Both the Federal Aviation Administration requests your credit report before issuing you a pilot's license and a car dealer requests your credit report before taking you on a test drive

To correct inaccurate, fraudulent, or other erroneous information on your credit report, which of the following is the best course of action? - File a complaint with the Federal Trade Commission. - Contact your creditors and notify them of the error. - File a defamation lawsuit against the credit bureau reporting the inaccurate information. - Contact the primary national credit bureaus by writing a letter and notifying them of the inaccurate information.

Contact the primary national credit bureaus by writing a letter and notifying them of the inaccurate information

Which of the following individuals will likely pay the highest rate of interest on borrowed money from a bank? - Douglas, who is borrowing money to pay for a vacation. - Rachel, who is borrowing money to purchase a new car. - Michelle, who is borrowing money to pay for a home improvement. - Terry who has a stable high-paying job and is borrowing money to purchase a home.

Douglas, who is borrowing money to pay for a vacation

Tara's budget shows a projected deficit. What does this mean for Tara? - It is impossible to have a deficit so Tara must cut expenses. - It means that she will need to borrow money to fund the deficit. - Either it means that she will need to borrow money to fund the deficit or it means that she will need to sell assets to fund the deficit. - It means that she will need to sell assets to fund the deficit.

Either it means that she will need to borrow money to fund the deficit or it means that she will need to sell assets to fund the deficit

In order to earn a higher rate of interest on your savings, you must: - Loan your money for a longer period of time. - Require that the borrower use collateral to secure the loan. - Take on more risk. - Either loan your money for a longer period of time or take on more risk.

Either loan your money for a longer period of time or take on more risk

Which of the following entities also reports income that you earned to the IRS? - Employer. - Financial institutions. - Other entities that make substantial payments to you during the year. - Employers, financial institutions, and other entities that make substantial payments to you during the tax year.

Employers, financial institutions, and other entities that make substantial payments to you during the tax year

Which of the following statements best describes the relationship between credit scores and credit riskiness of borrowers? - Higher credit scores are associated with lower credit risk. - Lower credit scores are associated with lower credit risk. - Higher credit scores are associated with higher credit risk. - Credit scores and credit risk are unrelated.

Higher credit scores are associated with lower credit risk

ROTH IRAs may allow you to achieve which of the following? I.Tax free distributions. II.Tax-deferred growth. III.Reduce current taxable income. - I and II. - I, II, and III. - I only. - II and III only.

I and II

Which of the following strategies is most likely to increase your confidence about your financial future? - I.Saving money on a regular basis. - II.Paying down debt as quickly as possible. - III.Borrowing money to improve GDP.

I and II only

Your friend Lucia is a procrastinator. How can you best help her overcome this weakness? I.Create deadlines. II.Encourage hyperbolic discounting. III.Strengthen her confirmatory bias. - I only. - III only. - I and II only. - II and III only.

I only

Which of the following are potential liabilities associated with business ownership? I.Taxes II.Debts III.Lawsuits. - II only. - I and II only. - II and III only - .I, II, and III.

I, II, and III

Which of the following elements influence your view of the financial world? I. Your risk tolerance II. How much you believe you control your financial future. III. Knowledge about personal finance topics - II only - II and III only - I and II only - I, II, and III

I, II, and III

Which of the following events will trigger the creation of a credit report? I.Declaring bankruptcy. II.Taking out a student loan. III.Borrowing money from a company. IV.Marriage or divorce. - I, II, and III only. - I, II, III, and IV. - I and III only. - II and III only.

I, II, and III only

Traditional IRAs may allow you to achieve which of the following? I.Tax free distributions. II.Tax-deferred growth. III.Reduce current taxable income. - I and II. - I, II, and III. - I only. - II and III only.

II and III only

Yolinda and Wes decide to go into business together as a partnership. As part of their business, they lease a car, with each paying half the monthly expenses. Unfortunately, the business does not make any money. After 2 years, Yolinda decides to leave and take a job with another employer. Wes, on the other hand, decides to make a go of the business. Given this information, which of the following is true? - Because the partnership is no longer in existence, the car lease is null and void. - Because Yolinda is no longer involved in the business, she no longer is legally obligated to help pay the car expenses. - Because Wes received only half of the company's profits, he is only liable for his share of expenses. - If Yolinda stops making her share of the car expenses, Wes will be liable for Yolinda's share.

If Yolinda stops making her share of the car expenses, Wes will be liable for Yolinda's share

Which of the following statements is true? - Individuals who save in an employer-sponsored retirement plan will have greater after-tax income and wealth than those who do not save in this plan. - Employer-sponsored savings plans are beneficial because the employee pays the taxes on the money contributed to retirement savings. - Employees must earn a minimum amount from their employer before they can contribute to the retirement plan. - Only retirement plans through work provide tax savings.

Individuals who save in an employer-sponsored retirement plan will have greater after-tax income and wealth than those who do not save in this plan

Which of the following statements regarding access to individual credit reports is most accurate? - Insurance companies can view a customer's credit report when underwriting insurance policies. - All employers can request an applicant's credit report without the applicant's knowledge. - Individuals are not allowed access to their personal credit reports unless they have been denied credit, employment, or insurance as a result of a credit check. - Anyone with someone's Social Security number can request that person's credit report under the law.

Insurance companies can view a customer's credit report when underwriting insurance policies

Loraine is thinking about her future retirement goals and needs. She has 25 years until retirement. She needs to save quite a bit of money to reach her retirement goal. Unfortunately, Loraine's risk tolerance is low. Given these facts, what the best recommendation for Loraine? - Obtain a second job to double her savings into low-risk investments. - Invest more aggressively knowing that she has time on her side to withstand any temporary setbacks with these riskier investments. - Supplement her savings with the use of lottery tickets in the hopes of earning a large windfall. - Postpone retirement to offset the fact that her tolerance for risk is so low.

Invest more aggressively knowing that she has time on her side to withstand any temporary setbacks with these riskier investments

It is possible to increase your financial risk tolerance over time. What is the process of risk tolerance change? - Understanding leads to risk tolerance, which leads to experience, confidence, and increased knowledge. - Knowledge leads to confidence, which leads to experience, understanding and an increase in risk tolerance. - Experience leads to understanding, which leads to confidence, knowledge, and an increase in risk tolerance. - Risk tolerance leads to confidence, which leads to understanding, experience, and increased knowledge.

Knowledge leads to confidence, which leads to experience, understanding and an increase in risk tolerance

Latisha is shopping for a car and an auto loan to purchase the car. All of the following statements are true, except: - If Latisha applies for credit at multiple auto lenders for the same amount within the same week, most credit scoring models will treat this as one credit application. - Latish should shop around at different lenders to find the best loan terms possible for her auto loan. - All of these answer statements are exceptions. - Latisha should avoid shopping for the lowest auto loan interest rate possible, because multiple credit applications will cause her credit score to go lower, leading to a higher interest rate.

Latisha should avoid shopping for the lowest auto loan interest rate possible, because multiple credit applications will cause her credit score to go lower, leading to a higher interest rate

Which of the following people is most likely to be considered financially knowledgeable? - Todd, who exhibits self-control but is not self-confident or financially experienced. - Michelle, who gives regularly to charity, reads about investing, and is self-confident. - Jamie, who has low self-confidence, likes to gamble, and rarely tracks news stories online. - John, who lives day-to-day, is experienced with investing, but sometimes spends more than he earns.

Michelle, who gives regularly to charity, reads about investing, and is self-confident

Mary uses her credit card frequently. Which of the following is the best strategy to minimize the amount of interest paid when using a credit card? - Pay more than the minimum monthly balance each month. - Search for and use a credit card with the lowest APR. - Pay off the credit card balance monthly. - Search for and use a credit card that compounds interest monthly.

Pay off the credit card balance monthly

Financial educators often recommend that individuals should: - Plan to use government benefits as an important source of income prior to retirement. - Plan to use government benefits as an emergency source of income. - Never accept government benefits. - Both plan to use government benefits as an important source of income prior to retirement and plan to use government benefits as an emergency source of income are correct.

Plan to use government benefits as an emergency source of income

What is the difference between realized and recognized income?- - Realized income is taxable in a future tax period, and recognized income is taxable in the current tax period. - Realized and recognized income are the same thing; one is just an accounting term and the other is a tax term. - Realized income is when it is reported on the tax return, and recognized income is when an asset is converted into another asset for a gain. - Realized income occurs when money is earned, and recognized income is when realized income is taxed.

Realized income occurs when money is earned, and recognized income is when realized income is taxed

Nedra uses her debit card on a daily basis. The last time she used it was the evening before at a restaurant. This morning, she noticed that the card was missing. How long does she have to report the card as lost to have 100% protection against fraudulent use? - She has 30 days from the date of the last authorized use. - She has 2 days from the date of the last authorized use. - She must report the card immediately before any unauthorized withdrawals are made. - She has 2 days from the date she determined the card was lost.

She must report the card immediately before any unauthorized withdrawals are made

Roger owns a boat. As he prepares his balance sheet, what value should he use as a liability input for the boat? - The monthly payment on the boat loan. - The amount remaining on the boat loan. - The price of a similar boat if he were buying a boat today. - The price he paid for the boat.

The amount remaining on the boat loan

What should installment loan lenders disclose to credit applicants? - The interest rate expressed as an annual percentage rate (APR), only. - The finance charge expressed in dollars, only. - The interest rate (as an APR) and the finance charge (in dollars). - Neither the interest rate (as an APR) nor the finance charge (in dollars).

The interest rate (as an APR) and the finance charge (in dollars)

Which of the following statements is true about compound growth? - The full benefits of compound growth are generally realized within 5 to 10 years. - Only interest experiences compound growth, not other investment gains. - How long money is set aside does not matter when calculating compound growth. - The longer you let your money grow, the more it will produce.

The longer you let your money grow, the more it will produce

Who is most likely to accumulate more wealth? - The person who is willing to take big gambles. - The person who is willing to take risk after adequate research. - The person who likes to gamble and play the lottery. - The person who takes a slow-and-steady low-risk approach.

The person who is willing to take risk after adequate research

The FICO score has been the standard model for developing credit scores for many years; however, new credit-scoring models are being developed. In relation to this, which of the following statements is true? - Because of multiple credit-scoring models, consumers have a difficult time knowing which behaviors matter most when trying to improve credit scores. - The same good credit behaviors, such as on-time payments and low debt-to-credit ratios, will lead to good credit scores regardless of the credit-scoring model. - Multiple credit-scoring models make it more difficult for individuals that have never had credit to receive a loan for the first time. - Multiple credit-scoring models make it much more difficult to improve credit scores.

The same good credit behaviors, such as on-time payments and low debt-to-credit ratios, will lead to good credit scores regardless of the credit-scoring model

The three primary national credit bureaus are: - FICO, Equifax, and Sallie Mae. - Experian, Sallie Mae, and TransUnion. - TransUnion, Equifax, and Experian. - Fair Isaac, Equifax, and Experian.

TransUnion, Equifax, and Experian

If you are claimed as a dependent on someone else's tax return, which of the following statements is correct: - You can also claim a personal exemption for yourself on your own tax return. - You do not have to file a tax return. - You may lose certain tax benefits for yourself. - None of these answer choices is correct.

You may lose certain tax benefits for yourself

Which of the following statements is true regarding credit cards? - If you pay off a credit card balance early, you will pay a penalty APR. - You must make more than the monthly minimum payment to pay off a credit card balance over a short period of time. - You may pay off a credit card balance at any time without penalty. - You may not pay off a credit card balance unless you receive approval from the credit card company.

You may pay off a credit card balance at any time without penalty

Which of the following statements is true? - When you invest money, you are taxed each year on any capital gains even if you do not sell the asset. - You will be taxed each year that you receive a dividend from an investment. - Interest earned on an investment is considered to be tax free until you sell the investment. - Both when you invest money, you are taxed each year on any capital gains even if you do not sell the asset and you will be taxed each year that you receive a dividend from an investment are correct.

You will be taxed each year that you receive a dividend from an investment

Generally, filing a joint tax return with your spouse results in ____ tax liability compared with filing separately. - a higher - a lower - the same - zero

a lower

Tax avoidance is: - legal and expected of taxpayers. - illegal and will be prosecuted. - structuring transactions so that taxes are minimized. - both legal and expected of taxpayers and structuring transactions so that taxes are minimized.

both legal and expected of taxpayers and structuring transactions so that taxes are minimized

Which is the most liquid asset? - Investments in bonds. - Money held in stocks. - Cash in your wallet. - Savings in a bank account.

cash in your wallet

Which of the following refers to a legal structure that is separate from the owners of the business? - Sole proprietorship. - General partnership. - Limited partnership. - Corporation.

corporation

The maximum amount that can be borrowed using a credit card is known as: - Minimum payment percentage. - Balance and penalty amount. - Credit limit. - The Annual Percentage Rate.

credit limit

Which of the following negative financial behaviors will stay on your credit report the longest? - Skipping payments to a merchant. - Making late payments on a credit card. - Being turned down for credit. - Declaring bankruptcy.

declaring bankruptcy

Which of the following refers to an asset that decreases in value over time? - Appreciating asset. - Liquidity. - Liability. - Depreciating asset.

depreciating asset

Someone who feels that investing is too difficult to understand likely: - has a high tolerance for financial risk - is positioned to maximize lifetime wealth accumulation goals - has a lower level of financial literacy - feels in control of his or her financial situation

has a lower level of financial literacy

One purpose of a budget is to: - determine increases and decreases in liabilities. - see how money is spent, track changes in asset values, and identify changes in liabilities. - help you see where you are spending money on a regular basis. - track the change in value of assets.

help you see where you are spending money on a regular basis

Jorge opened a no-cost checking account at a local bank last month. He was surprised when he was charged several service fees. Under federal law, which of the following service fees is allowed in a no-cost checking account? - Service charge for excessive transactions. - Inactive account fee. - Withdrawal fee. - Money transfer fee.

inactive account fee

All of the following are examples of earned income except: - interest received from a savings account. - a year-end bonus received from an employer. - commissions earned on the sale of product or services. - wages from a job.

interest received from a savings account

Someone who takes risks with his/her money by buying assets or shares in a company in hopes of receiving unearned income in the form of dividends is called a(n): - borrower. - lender. - investor. - banker.

investor

Which of the following shields the personal assets of the owner(s) from the liabilities of the business?- - Limited partnership. - General partnership. - Limited liability company. - Limited liability partnership.

limited liability company

Jerry recently earned $200 on an investment. Unfortunately, the investment fell in value, and he lost $200. Afterward, Jerry felt miserable. He hated losing the money much more than he enjoyed seeing the investment grow. Jerry's experience is an example of: - heuristic meditation. - discounting. - loss aversion. - behavioral economics.

loss aversion

TVM calculations should be used when the following three things are part of a financial goal. - Risk preference, risk tolerance, and budgeting. - Human capital, social capital, and budgeting. - Risk, money, and insurance. - Money, time, and interest.

money, time, and interest

Nigel believes that most "rich people" obtained their wealth either through hard work or by investing wisely. Assuming Nigel adopts this same perspective as a guide to his own spending and saving behavior, he is most likely to become: - more knowledgeable about the financial marketplace over time and increase his personal wealth. - disillusioned later in life as he nears retirement. - a consistent purchaser of lottery tickets. - both disillusioned later in life as he nears retirement and a consistent purchaser of lottery tickets.

more knowledgeable about the financial marketplace over time and increase his personal wealth

Swarn is a risk-taker. His core life philosophy is that nothing bad can happen to him. When he thinks back over his life, he can't remember any serious negative events. When he looks ahead, he simply can't imagine a painful loss occurring to him. Swarn likely suffers from a(n): - future discounting bias. - cognitive evaluation bias. - loss-aversion bias. - optimism bias.

optimism bias

Because of the TVM concepts learned in this topic, you should _________ receiving $1,000 in 1 year if given the opportunity to receive $1,000 in 2 years from today. - find out more information before - decline - be indifferent to - prefer

prefer

Which of the following terms best represents the amount of money that is borrowed, and which must be repaid? - Loan repayment cost. - Promotional fee. - Principal. - Interest.

principal

Compared with other developed countries in the world, the United States has a(n) ___________ tax system. - regressive. - flat. - progressive. - equally distributed.

progressive

Which of the following refers to the "S" in SMART goals? - Simple. - Significant. - Strategic. - Specific.

specific

A deficit in a budget means you are: - saving more than what you are spending. - earning more than you are spending. - spending more than you are earning. - saving more than what you are earning.

spending more than you are earning

Tax planning activities take advantage of which of the following? - Tax loopholes. - Tax evasion. - Tax deferral. - Tax loopholes and tax-deferral.

tax loopholes and tax-deferral

Haley owns a Honda Civic. She is creating her balance sheet and needs to input a value for the car. Which of the following is an indication of the car's fair market value? - The price of a similar Civic for sale. - The price that Haley paid for the car. - The amount of the loan balance outstanding on the car. - The trade-in value of the car.

the trade-in value of the car

Income tax rates are determined by the - type of income earned. - filing status of the taxpayer. - amount of taxable income reported on the tax return. - type of income earned, filing status, and amount of taxable income reported on the tax return.

type of income earned, filing status, and amount of taxable income reported on the tax return

Risk is the ______ associated with any physical, social, emotional, environmental, workplace, or financial activity. - financial implication. - project result. - benefit. - uncertainty.

uncertainty

Tax evasion is: - underreporting recognizable income. - underreporting frivolous deductions. - legal and expected of taxpayers. - structuring transactions with economic substance to avoid taxes.

underreporting recognizable income

All of the following statements regarding credit inquiries are true, except: - hard credit inquiries generally have a negative impact on credit scores. - soft credit inquiries generally do not affect credit scores. - when an individual requests his or her own credit report, it is considered a hard inquiry. - hard credit inquiries generally have a negative impact on credit scores, but soft credit inquiries generally have no effect.

when an individual requests his or her own credit report, it is considered a hard inquiry

Failure to file a tax return when you have earned taxable income as an employee - will result in a penalty from the IRS, even if it was an accident. - will not result in a penalty unless the IRS finds you guilty of committing fraud. - will not be known by the IRS. - both will not result in a penalty unless the IRS finds you guilty of committing fraud and will not be known by the IRS.

will result in a penalty from the IRS, even if it was an accident

Someone who strongly agrees with (a) the thought of taking risk is exciting, (b) high returns are more important than safety, and (c) making money in stocks and bonds is based on knowledge is most likely: - believing in luck and fate. - feeling that he or she cannot control his or her financial future. - willing to take no financial risk. - willing to take more financial risk.

willing to take more financial risk