A house payment and utilities are examples of

The IRS can audit your tax returns for a period of ______ year(s), except in the case of fraud, where there is no time limit.

Which of these is a liability?

When you assets are greater than your liabilities, you are said to be

A major reason for financial planning is to prevent careless spending.

Money you have to spend as you wish (after all you bills are paid for) is known as _______.

A(n) __________ is an organized plan whereby you match your expected income with expenses and savings.

Expenses that remain constant and cannot be easily changed or removed from a budget are called ___ expenses.

Expenses that may change according to needs and short-term goals are called ______ expenses.

A _______ is a person who promises to pay the debt of another person.

Amounts of money owed to others, also known as debts, are called __________.

Minors are not considered competent parties to enter into an agreement.

A co-signer is responsible for your debts only if you miss three or more payments.

An advantage of an electronic filing system is the ease of updating information.