What is an amount of money spent to buy goods and services for yourself or business?
Personal Finance Test Review

Flashcard
•
Mathematics, Other
•
10th - 12th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
Expense
2.
FLASHCARD QUESTION
Front
What is a spending plan for managing money during a given period of time?
Back
Budget
3.
FLASHCARD QUESTION
Front
What is something owed to another-- an obligation to pay?
Back
Debt
4.
FLASHCARD QUESTION
Front
Which of the following is NOT a need: Food, Clothes, Netflix, Shelter?
Back
Netflix
5.
FLASHCARD QUESTION
Front
What is something you identify and work on to achieve?
Back
Goal
6.
FLASHCARD QUESTION
Front
What is the difference between needs and wants?
Back
Needs are essential for survival (e.g., food, shelter), while wants are non-essential items that enhance quality of life (e.g., luxury items).
7.
FLASHCARD QUESTION
Front
What is a fixed expense?
Back
An expense that does not change from month to month, such as rent or mortgage payments.
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