Personal Finance: Chapter 4 Review

Your net worth can be computed as 

• assets plus liabilities
• cash inflows minus cash outflows
• assets minus liabilities
• assets minus cash outflows

A utility bill is an example of

• an asset
• a variable expense
• a fixed expense
• a cash inflow

Standards against which progress is measured in reaching goals are called

• benchmarks
• timelines
• variances
• assets

Goals you wish to achieve in the next two to five years are

• temporary goals
• short-term goals
• medium-term goals
• long-term goals

Software or a hardware device that filters information coming in to your computer is called a(n)

• phishing net
• hacker
• firewall
• identity saver

The amount of money a person has to spend after needs are met is called

• net cash flow
• discretionary income
• net worth
• disposable income

Which 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

Tags

CCSS.6.NS.C.5

What should you do if your budget does not balance?

• adjust savings
• lower expenses
• increase income
• any of these

Which of the following would be considered a fixed expense?

• gasoline
• clothing
• entertainment
• rent

Sherry 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