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WorksheetsFinancial Ed. Review
Total questions: 17
Worksheet time: 8mins
Smarter choices result in better use of time and money
True
False
Difficult or challenging decisions demand more consideration.
False
True
Budget is the amount of money that is available for a particular purpose.
False
True
Is the loss of potential gain from other alternatives when one alternative is chosen.
(a)
Should be realistic, be specific, and have a timeframe.
Savings
Financial Goal
Income
Probabilities of loss or the chance of adverse outcomes
Cost
Gains
Risks
Meaning of TVM
(a)
Decision Making Process:
1. Identify the problem
2. Select the best solution
3. Evaluate the results
4. Gather information/alternatives
5. Consider the consequences
1. Identify the problem
2. Gather information/alternatives
3. Consider the consequences
4. Select the best solution
5. Evaluate the results
1. Identify the problem
2. Consider the consequences
3. Gather information/alternatives
4. Select the best solution
5. Evaluate the results
People are always aware of economic influences that can affect decision-making.
True
False
It’s important to have current information, assistance, and data on all of the relevant factors.
True
False
occurs when overall prices increase due to increases in the cost of wages and raw materials.
Spending
Poverty
Inflation
Unemployment
The amount charged, expressed as a percentage of the principal, by a lender to a borrower for the use of a assets.
Taxes
Interest Rates
Loan
Having a budget doesn't keep your spending in check and doesn't makes sure your savings are on track for the future.
True
False
Budget Process
1. Set your financial goals
2. Find out how much money you're managing
3. Track your spending.
4. Stick to your plan.
5. Decrease your
spending or increase your income.
1. Find out how much money you're managing
2. Track your spending.
3. Set your financial goals
4. Increase your
spending and decrease your income.
5. Stick to your plan.
1. Find out how much money you're managing
2. Track your spending.
3. Set your financial goals
4. Decrease your
spending or increase your income.
5. Stick to your plan.
The opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice.
True
False
Provided money can earn interest meaning any amount of money is worth more the sooner it is received
True
False
Investors prefer to receive money today rather than the same amount of money
False
True
