Assessment 2: Creating a Budget - October 17, 2024

Front

Which of the following refers to family members who do not consider money as a necessity and do not have much of an opinion on money? Security seekers, Flyers

Back

Flyers

Front

Are bills considered a flexible expense and a liability?

Back

False

Front

Which type of people prefer to plan for the future and are prepared for any type of financial situation?

Back

Security seekers

Front

Which of the following is a short-term goal?
Options:
Saving for a retirement fund
Saving for a family vacation
Starting a new career
Saving for a college education

Back

Saving for a family vacation

Front

What is the Flowers family's net worth if total assets equal $240,000 and total liabilities equal $180,000?

Back

$60,000

Front

__________ is the sum of the individual's current assets minus the individual's total liabilities.

Back

Net worth

Front

__________ is considered a family asset.

Back

Cash

Front

Which of the following refers to family belongings which have value? Assets, Net profit, Net worth, Liabilities

Back

Assets

Front

Based on the 50/30/20 rule for allocating resources, which percentage should be devoted to savings? Options: 50, 0, 20, 30

Back

20

Front

__________ are goals which can be achieved in less than a year.

Back

Short-term goals