F24CR - Budgets, Balance Sheets, Income Statements

F24CR - Budgets, Balance Sheets, Income Statements

Assessment

Flashcard

Financial Education

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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22 questions

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1.

FLASHCARD QUESTION

Front

Child support that you receive is _____?

Back

income

2.

FLASHCARD QUESTION

Front

Child support that you pay is _____

Back

expense

3.

FLASHCARD QUESTION

Front

Rent that you pay is _____.

Back

expense

4.

FLASHCARD QUESTION

Front

Student loans are a _____.

Back

liability

5.

FLASHCARD QUESTION

Front

A mortgage is a _____.

Back

liability

6.

FLASHCARD QUESTION

Front

How can you pay for a deficit: Use some of your assets, Increase your liabilities, Neither of these - you can't pay for a deficit, Either of these - but they both lower your net worth

Back

Either of these - but they both lower your net worth

7.

FLASHCARD QUESTION

Front

True or False. Spending more than you earn always lowers your net worth.

Back

True

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