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WorksheetsBasics of Financial Planning
Total questions: 10
Worksheet time: 6mins
The following statements are true about Financial Planning except:
Financial Planning provides appropriate funds.
It decreases the uncertainty regarding market changes.
It helps to provide stability.
All of the above
What is the importance of setting financial goals?
Setting a financial goal can help us to buy more desire items.
Setting a financial goal can help us to earn more money.
Setting a financial goal will affect the total monthly savings in achieving the goal.
Setting a financial goal will affect our salary income.
Which of the followings are true about short-term and long-term financial goals?
(Choose all relevant.)
Short-term financial goals are less than a year and do not involve a large amount of money to be achieved.
Short-term financial goals are less than a year and involve a large amount of money to be achieved.
Long-term financial goals are more than five years and do not involve a large amount of money as compared to the short-term financial goals.
Long-term financial goals are more than five years and involve a large amount of money as compared to the short-term financial goals.
Which of the following is NOT true about setting financial goal?
The goal must be Specific.
The goal must be Measurable.
The goal must be Attainable.
The goal must be Realistic.
The goal must not have a time limit.
All the following statements are true about Financial Planning except:
Financial Planning provides appropriate balance between the incoming and outgoing funds.
Financial planning decreases the uncertainty regarding to market changes which the organization may face with.
Financial planning decreases the uncertainty which could affect the organization’s growth.
Financial planning provides appropriate balance between the incoming and increases outgoing funds.
It refers to the responsibility for the way money or the budget is used and managed. What is it?
Financial Planning
Financial Controls
Financial Accountability
Financial Needs
Which of the following images exhibits financial planning?
It is the process of forecasting future expenses and income.
Saving
Budgeting
Financing
Accounting
Alex is studying for his math quiz, but his favorite TV show just started. If he studies for the quiz, he will miss out on watching the show. Alex decides not to watch the show and continue studying for the quiz. What is the opportunity cost of his decision?
studying for a quiz
watching TV
eating dinner
taking a nap
