| Question |
Answer |
| What refers to the day-to-day financial activities associated with using limited income to satisfy your unlimited needs and wants? |
money management |
| What are items of value? |
personal assets |
| What is the difference between a person's asset and liabilities? |
net worth |
| What reports net wages and other income along with spending for a period? |
cash flow statement |
| What are costs that occur on a regular basis and are for the same amount each time? |
fixed expenses |
| What involve living costs the differ each time and may not be as easy to estimate? |
variable expenses |
| What is the amount of money you plan to use for a certain budget category? |
allowance |
| What is actual spending compared with budgeted amounts? |
budget variance |
| What is a report that summarizes your current financial condition, acknowledges your financial needs, and sets a direction for your future financial activities? |
financial plan |
| What involves the accumulation and management of property during one's lifetime and the distribution of one's property at death? |
estate planning |
Buen Viaje lv.2 ch 8
