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Money Management and Financial Planning

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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  


   


 

 

 
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Created by: schreiner on 2009-10-30




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