XI_CH 12 FINANCIAL MANAGEMENT & PLANNING PART- A

Given below are two statements labeled as Assertion (A) and reason (R)

Assertion(A)- Planning, controlling and evaluating the use of all these types of incomes is called financial management.

Reason(R)- Financial management purpose is to give the family greatest satisfaction from the resources at hand.

Select the most appropriate answer from the options given below.

• Both A and R are true and R is the correct

  explanation.

• Both A and R are true but R is not the

  correct explanation.

• A is true R is false.

• A is false R is true

Given below are two statements labeled as Assertion (A) and reason (R)

Assertion(A)- Family resources are the resources that are available to the individual or the family at a particular time.

Reason(R)- Family resources include human resources, material resources, community resources.

Select the most appropriate answer from the options given below.

• Both A and R are true and R is the correct

  explanation.

• Both A and R are true but R is not the

  correct explanation.

• A is true R is false.

• Both A and R are false

A financial year is generally from _____________________.

• 1st March to 31st April of the next year.

• 1st April to 31st March of the next year.

• 1st April to 1st April of the next year.

• 31st March to 31st March of the next year.

Your family income can be increased by reducing your personal expenses like:

• Use public transport instead of a car/motorcycle

• Borrow books from library

• No impulse buying

• All of the above

Which of the following are included in the four C’s of credit?

(a) Character

(b) Capacity

(c) Causes

(d) Capital

(e) Collateral

• (a), (b), (c), (d)

• (b), (c), (d), (e)

• (a), (c), (d), (e)

• (a), (b), (d), (e)

If a family's monthly expenses are greater than its income, then it has:

• A debt

• Savings

• Interest

• Income

An example of direct real income is:

• a. Skill of family member

• b. Fringe benefits

• c. Barter system

• d. buying a houseRead

Family income means:

• income of all related persons living in the household

• commodities and services produced in the country

• right to consume goods and services

• all the above.

All food expenses are carried out from the money in envelope/ food purse wallet. This is helpful for which form the below:

• Mental Checks

• Mechanical checks

• Keeping record

• Option b & c

Reena is a government employee, for which she gets a handsome package, accommodation & conveyance. Identify the different types of family income of her.

a. Money income

b. Indirect income

c. Psychic income

d. Direct income

• Option a, b, c

• Option a, c, d

• Option b, c, d

• Option a, c, d