PF Ch 4 Budgeting

PF Ch 4 Budgeting

Assessment

Flashcard

Business

11th - 12th Grade

Hard

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50 questions

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1.

FLASHCARD QUESTION

Front

The two elements to consider in budgeting and planning are your income and your expenses.

Back

True

2.

FLASHCARD QUESTION

Front

A set of goals for spending, saving, and investing the money you receive is called a budget.

Back

False

3.

FLASHCARD QUESTION

Front

Before you prepare a budget, it is a good idea to keep track of your income and expenses for a month or two.

Back

True

4.

FLASHCARD QUESTION

Front

You should always create a monthly budget—weekly or biweekly budgets tend to be inaccurate.

Back

False

5.

FLASHCARD QUESTION

Front

In the short-run, fixed costs are easier to change than variable costs.

Back

False

6.

FLASHCARD QUESTION

Front

When assets are greater than liabilities, you are said to be solvent.

Back

True

7.

FLASHCARD QUESTION

Front

A net worth statement will be useful when you apply for a loan or credit.

Back

True

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