Intro to Business (Chapter 12)

Front

Financial planning generally reduces an individual's financial uncertainties.

Back

True

Front

All people have basically the same financial planning goals regardless of which stage of life they are in.

Back

False

Front

Which of the following would probably be a short-term financial goal? Purchasing a new iPhone, Buying a home, Going to college, Investing in Retirement

Back

Purchasing a new iPhone

Front

One of the first things you should do as part of the financial planning process is to:

Back

Develop financial goals.

Front

Your birth certificate and social security card would likely be contained in which category of your financial records filing system?

Back

Personal Records

Front

A record of your assets and liabilities is called a cash flow statement.

Back

False

Front

Savings accounts and a paid for home are examples of:

Back

Assets

Front

A payment for rent represents:

Back

A cash outflow

Front

Assets = $300,000
Liabilities = $50,000
Net Worth = ???

Back

$250,000

Front

Which one of the following would be considered a long-term goal?
Buying groceries at the store,
Buying a gift for a friend,
Buying a new t-shirt from the mall,
Saving for retirement

Back

Saving for retirement