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WorksheetsPersonal Finance Chapter 8
Total questions: 25
Worksheet time: 22mins
This is a list of items of value that a person owns.
(a)
This is the set of goals for spending, saving, and investing the money you earn.
(a)
This is the money you have left to spend or save after taxes have been paid.
(a)
This is a legally enforceable agreement between two or more parties.
(a)
This is a person to whom the note is made payable to.
(a)
This is the amount of money that you owe to others.
(a)
This is anything of value exchanged as part of a contract.
(a)
This is a spending savings plan based on your expected income and expenses.
(a)
This is an unconditional written promise to pay a specified sum of money upon demand of the holder.
(a)
This is a person who promises to pay the note if the maker fails to pay.
(a)
This is the difference between your assets and liabilities.
(a)
When voluntary intent is expressed to be bound in an (a) with someone.
This is a written promise to pay a certain sum of money to another person or the holder of the note on a specified date.
(a)
These are cost you are obligated to pay at specific times regardless of other events.
(a)
This refers to the competence (legal ability) of the parties to enter a contract.
(a)
For a contract to be legally enforceable, it must be lawful.
(a)
This is also called a "guarantee", and is a statement about a products performance and quality that the seller assures the buyer are true.
(a)
These are cost that vary in amount and type, depending on events and the choices you make.
(a)
This is the person who creates and signs the promissory note and agrees to pay it on a certain date.
(a)
Which of the below are reasons that you should financially plan.
So you can what you want when you want.
So you can determine options for your money.
So you will have unlimited income opportunities
Which of the below is not a step in preparing a budget?
Estimating your total expected incoome.
Estimating your expenses.
Prioritizing your options so your money goes as far as possible.
Deciding how much of your income you want to save.
Which of the below is a fixed expense?
Rent / Mortgage payment
Utilities
Groceries
Appliances
You should keep good records because it makes budgeting and long term planning easier.
True
False
Which of the below is not something that makes a contract legally binding?
Agreement
Consideration
Pre-consideration
Legality
Which of the below is an example of a negotiable instrument?
Mortgage
Check
Bank account
Car loan
