#19 Ch. 3 and 4 Test Review

Which of the following items would not be considered cash inflow?

• Salary

• Allowance

• Students Loan Payment

• Gifts

What kind of goal is the following:

I will graduates college with a Bachelor's Degree by the year 2024.

• Short Term

• Intermediate Term

• Long Term

Which of the following gives you a positive net cash flow?

• Cash inflow exceeds cash outflow.

• Cash outflow exceeds cash inflow.

When your cash inflow exceeds you cash outflow, what should you do next?

• Nothing

• Get a second job

• Spend it to get your balance sheet at exactly zero

• Put the rest of the money into a saving account

A balance sheet is used to determine...

• If you are eating right

• How much and where your money is going each month

• How your stocks are doing

• None of the above

What is the purpose of investing money?

• Using your money to acquire assets that will increase in value

• Have fun

• Improve your credit score

• Decrease your liabilities

The steps for setting goals are...

Step 1: Establish Goal

Step 2: Choose an Option

Step 3: Analyze your situation

Step 4: Identify Options

Step 5: Review and Adjust

Which step is out of order?

• Step 1

• Step 2

• Step 3

• Step 4

• Step 5

Which of the following are fixed expenses? (You can choose multiple options)

• Student Loan Payment

• Electricity

• Car Payment

• Mortgage

• Food

Which of the following would be variable expenses? (You can choose more than one option)

• Rent

• Water

• Medical Bills

• Internet

• Clothes

Caleb will work 12 hours a week during the 36-week school year and 40 hours the other 16 weeks in the year. How many hours will he work in total?

• 640 hours

• 432 hours

• 1072 hours

• 1632 hours