What is a long-term liability?
Financial Math Post Test Sem 1

Flashcard
•
Mathematics
•
12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
A long-term liability is a financial obligation that is due for payment in more than one year, such as a mortgage or a house payment.
2.
FLASHCARD QUESTION
Front
What are stocks?
Back
Stocks are shares of ownership in a company, representing a claim on the company's assets and earnings.
3.
FLASHCARD QUESTION
Front
How can one increase savings?
Back
One can increase savings by increasing cash inflow, which means earning more money or reducing expenses.
4.
FLASHCARD QUESTION
Front
What is an example of a long-term financial goal?
Back
Buying a home is an example of a long-term financial goal.
5.
FLASHCARD QUESTION
Front
What category of goods do consumers tend to spend the most on?
Back
Consumers tend to spend the most on housing.
6.
FLASHCARD QUESTION
Front
What is the difference between assets and liabilities?
Back
Assets are resources owned by an individual or company that have economic value, while liabilities are obligations that require future payment.
7.
FLASHCARD QUESTION
Front
What is a budget?
Back
A budget is a financial plan that outlines expected income and expenses over a specific period.
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