Personal Finance- Midterm Exam

You should always create a monthly budget- weekly or biweekly budgets tend to be inaccurate.

• True

• False

Under flextime, employees do not need to work a set number of hours per day.

• True

• False

Employees who telecommute often do computer-related work, such as data entry or Web design.

• True

• False

A job requiring heavy physical labor is probably not a good candidate for a compressed workweek.

• True

• False

The competence or legal ability of a person to enter a contract is called consideration.

• True

• False

Revenue bills must pass a vote in the Senate and then be signed by the President before they become law.

• True

• False

It is customary for employees to receive three to ten days a year as "sick days" without deductions from pay.

• True

• False

A check cannot be cashed until it has been reconciled.

• True

• False

A court will not require a person to perform an agreed-upon act if it is illegal.

• True

• False

You should reconcile your checking account as as you receive your bank statement.

• True

• False