Personal Finance 2

Increase in amount of money as a result of interest earned is also the amount that will be available at a later date:

• Current value of money

• Future value of money

• Present value of money

• Time value of money

Creating and implementing a plan for spending and saving is known as

• Credit

• Balancing

• Budgeting

• Savings

A financial statement tat reports what an individual or family owns and owes as of a specific date is known as a:

• Transmittal sheet

• Balance sheet also called a net worth statement

• Goods and services

• Liquid assets forms

Assets - Liabilities =

• Net worth

• Your valuables

• Dependence

• Insolvency

Day-to-day financial activities necessary to manage current personal economic resources, while working toward long-term financial security is called?

• Money management

• Savings

• Budgeting

• Financial planning

A personal income and expenditure statement that summarizes your cash receipts and payments for a given period is known as a:

• Cash flow statement

• Financial plan

• Budget statement

• Balance Sheet

Net worth statement and statement of financial position are both better know as a :

• Budget statement

• Reconciliation sheet

• Financial settlement

• Balance sheet also called a net worth statement

Your Successful Budget can be retained and recalled by any of the following methods except:

• Written of computerized budget

• Physical budget

• Televised budget

• Mental budget

Characteristics of a successful Budget take into consideration all but does not include:

• Well planned

• Clearly communicated

• Memorized

• Realistic and flexible

Personal financial planning involves all except:

• Create, implement, review and revising a financial action plan

• Determine financial situation and develop financial goals

• Identify alternative courses of action and evaluate alternatives

• Measuring the improvements of growth in Sweatbriar LLC