Financial Management and Planning

Growing vegetable in the kitchen garden is an example of ___________

• Money income

• Psychic income

• Real direct income

• Real indirect income

____________is the satisfaction that results from the ownership and utilization of goods and services.

• (a) Psychic income

• (b) Barter system

• (c) Fringe benefits

• (d) Money income

____________is the satisfaction that results from

the ownership and utilisation of goods and services.

• (a) Psychic income

• (b) Barter system

• (c) Fringe benefits

• (d) Money income

Education allowance for children is an example of_________________

• (a) Fringe benefits

• (b) Barter system

• (c) Money income

• (d) Psychic income

The proper utilization of resources to achieve the goals and objectives is called_________.

• (a) Price

• (b) Plan

• (c) Management

• (d) Investment

Financial management has a general meaning in the context of the family for the management of____________.

• (a) Income

• (c) Business

• (c) Business

• (d) Life

___________provides services and goods to the family members without utilising the money.

• (a) Indirect income

• (b) Direct income

• (c) Mental income

• (d) Budget

The plan for future expenditure is called

• (a) Budget

• (b) Expenditure

• (c) Income

• (d) Salary

From_________we currently receive money and goods, services and pay them in the future.

• (a) Credit

• (b)Borrowing

• (c) Deposit

• (d) Interest

Read the following statements - Assertion (A) and Reason (R).

Assertion (A) : The positive difference between income and expenditure is called saving.

Reason (R) : Saving is important to meet future needs and capital formation.

Select the most appropriate answer from the options given below :

• (a) Both A and R are true, and R is the correct explanation.

• (b) Both A and R are true, but Ris not the correct explanation.

• (c) A is true R is false.

• (d) A is false, but R is true.