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- 1. Multiple ChoiceWith every buying decision, there is a tradeoff and an opportunity cost.TrueFalse
- 2. Multiple Choice
Savings should be included in your list of cash inflows when creating the personal cash flow statement.TrueFalse - 3. Multiple ChoiceThe amount owed on your credit card is an example of a liability.TrueFalse
- 4. Multiple ChoiceAlthough people's financial resources are limited, their wants and needs are unlimited and growing.TrueFalse
- 5. Multiple ChoiceFinancial goals should be set before personal goals, because your personal goals will be dependent on them.TrueFalse
- 6. Multiple ChoiceA goal you expect to achieve by next year would be classified as a short-term goal.TrueFalse
- 7. Multiple ChoiceBenchmarks may consist of steps or specific actions to take.TrueFalse
- 8. Multiple ChoiceBecause most people do not have enough resources to meet all their needs & wants, they must make choices.TrueFalse
- 9. Multiple ChoiceYour net worth can be computed asassets plus liabilitiescash inflows minus cash outflowsassets minus liabilitiesassets minus cash outflows
- 10. Multiple ChoiceA utility bill is an example ofan asseta variable expensea fixed expensea cash inflow
- 11. Multiple ChoiceStandards against which progress is measured in reaching goals are calledbenchmarkstimelinesvariancesassets
- 12. Multiple ChoiceGoals you wish to achieve in the next two to five years aretemporary goalsshort-term goalsmedium-term goalslong-term goals
- 13. Multiple ChoiceWhich of the following is a common Internet scam in which an e-mail is sent from someone posing as your bank or other legitimate business asking for personal information?phishinghackingponzi schemepigeon drop
- 14. Multiple ChoiceSoftware or a hardware device that filters information coming in to your computer is called a(n)phishing nethackerfirewallidentity saver
- 15. Multiple ChoiceThe amount of money a person has to spend after needs are met is callednet cash flowdiscretionary incomenet worthdisposable income
- 16. Multiple ChoiceWhich of the following would NOT be included in a person's list of assets?$13,000 car loan$300 cash on hand$5,000 dinette set$1,000 savings account
- 17. Multiple ChoiceWhat should you do if your budget does not balance?adjust savingslower expensesincrease incomeany of these
- 18. Multiple ChoiceWhich of the following would be considered a fixed expense?gasolineclothingentertainmentrent
- 19. Multiple ChoiceSherry as $31,565 in total assets and owes $13,565 on her car loan and credit cards. What is Sherry's net worth?$18,000$45,130$428,179,225
- 20. Multiple ChoiceA(n) __ is a spending and saving plan based on expected income and expenses.budetpersonal cash flowfinancial plannet worth
- 21. Multiple Choice__ are money and items of value that you own.Assetspersonal financial plansnet worthfinancial resources
- 22. Multiple ChoiceA(n) contains personal and financial goals you want to accomplish along with steps and a timeline for reaching these goals.financial planbudgetnet worthbenchmark
- 23. Multiple ChoiceDoing without an item you would like to buy now in order to save money to fulfill a medium or long-term goal is an example of ___.delayed gratificationappreciatingnet worthassets
- 24. Multiple ChoiceA(n) __ is a visual display of how long it will take to achieve each phase of your financial plan.timelinebenchmarkgraphencryption
- 25. Multiple ChoiceA personal __ statement shows a person's net worth based on his or her assets and liabilities.net worthcash flowincomeliability
- 26. Multiple ChoiceAssets that are growing in value over time are said to be ___.appreciatingdeprecciatingexpiringnone of these
- 27. Multiple Choice__ include money or other items of value that people can use to acquire goods and services.financial resourcesassetsfinancial plannet worth
- 28. Multiple Choice___ is the primary source of funding for the fine arts, the performing arts, and most religious and humanitarian causes.philanthropyfinancial planencryptionassets
- 29. Multiple ChoicePasswords and ___, which is the process of converting data to a coded form ,will help protect your electronic information.encryptionphilanthropyappreicatingtimeline
- Answer choicesTagsAnswer choicesTags