Fin Lit Ch 6 Mod Test

Keeping track of your money.

• Budget
• Cash flow statement
• Inflation
• Recordkeeping

Expenses that are the same each month.

• Fixed expenses
• Cash outflow
• Budget
• Net cash flow

Cash inflow minus cash outflow.

• Cash flow statement
• Consumer price index
• Net cash flow
• Recordkeeping

Anything that takes away cash.

• Fixed expense
• Cash inflow
• Cash outflow
• Inflation

A plan for using your money before you receive it.

• Recordkeeping
• Consumer price index
• Cash flow statement
• Budget

A cash flow statement is a plan for using your money.

• True
• False

Budgets must be adjusted like other plans you make.

• True
• False

Net cash flow equals cash inflow plus cash outflow.

• True
• False

Anything that brings in cash is a cash inflow.

• True
• False

Needs are things that a person desires but that are not essential to survival.

• True
• False