Cash Management

How much of your earnings should you save each month?

• About 5 percent of your gross pay

• About 10 to 15 percent of your gross pay

• No less than 20 percent of your gross pay

Process of forecasting future income and expenses

• cash flow

• budget

• finance

What is the definition of a "need"?

• Something that is important for you to have

• Something that is necessary for you to survive

• Something you would like to have

• Something you do not need to survive.

Entertainment and dining out are important expenses in a budget and should not be cut.

• False

• True

The biggest factors for determining your budget are __________ and _______.

• income, paycheck

• rent, medical

• income, expenses

• retirement, expenses

It includes all activities involved in obtaining, training, and compensating the employees of a business.

• Staffing

• Planning

• Organizing

• Implementing

It also called stock control, is the process of managing a company's inventory levels

• Purchasing Plan

• Inventory

• Inventory Control

• Inventory Needs

It is the rate at which the inventory of a product is sold and replaced with new inventory.

• Cost of Being Out of Stock

• Cost of Carrying Inventory

• Stock Turnover Rate

• Analyze Sales

It is an important skill of every small business owner or manager

• Financial Management

• Managing Cash Flow

• Improving Cash Flow

• Cash Budget

What is a common money myth?

• building wealth is a good idea

• debt is dumb

• I can go to college without debt

• everyone has student loan debt