CF II Unit 4 Finance Vocabulary test

What is an asset?

• A plan for spending and saving money

• Any items of value that people own

• A life-work chosen by a person

• An arrangement to receive cash, goods, or services now and pay for them in the future

What is a budget?

• A plan for spending and saving money

• Any items of value that people own

• A life-work chosen by a person

• An arrangement to receive cash, goods, or services now and pay for them in the future

What is a career?

• A plan for spending and saving money

• Any items of value that people own

• A life-work chosen by a person

• An arrangement to receive cash, goods, or services now and pay for them in the future

What is credit?

• A plan for spending and saving money

• Any items of value that people own

• A life-work chosen by a person

• An arrangement to receive cash, goods, or services now and pay for them in the future

What is a debit?

• A plan for spending and saving money

• Any items of value that people own

• An amount recorded on the left side of an account

• An arrangement to receive cash, goods, or services now and pay for them in the future

What are expenses?

• A plan for spending and saving money

• Any items of value that people own

• Any money a person spends or gives away

• An arrangement to receive cash, goods, or services now and pay for them in the future

What is income?

• A plan for spending and saving money

• Any items of value that people own

• Money that a person receives

• An arrangement to receive cash, goods, or services now and pay for them in the future

What are investments?

• A plan for spending and saving money

• Any items of value that people own

• The use of savings to earn a financial return

• An arrangement to receive cash, goods, or services now and pay for them in the future

What are loans?

• A plan for spending and saving money

• Any items of value that people own

• A sum of money given to an individual with the intent that it is to be repaid at some future date along with any agreed upon interest

• An arrangement to receive cash, goods, or services now and pay for them in the future

What are needs?

• Things that are required in order to live

• Things that add comfort and pleasure to your life

• Money that a person receives

• An arrangement to receive cash, goods, or services now and pay for them in the future