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Fin Math Chapter 6 Review Flashcards | StudBud
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Fin Math Chapter 6 Review
Fin Math Chapter 6 Review
15 terms
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Budgeting
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
Net cash flow equals cash inflow plus cash outflows.
True
False
2
Anything that takes away cash is
Cash outflow
Inflation
Recordkeeping
Cash inflow
3
Income that doesn't vary is
Variable income
Cash inflow
Fixed income
Budget
4
Anything that brings in cash is a cash inflow.
True
False
5
A plan for using your money before you receive it is a
Cash inflow
Cash flow statement
Inflation
Budget
6
Budgets must be adjusted like other plans you make.
False
True
7
A budget is __ .
the same as a cash flow statement
a plan to create cash inflow
the same as a cash flow statement but with more detail
a plan for using your money before you receive it
8
The consumer price index is used to measure __ .
consumer expenses
consumer savIngs
consumer spending
inflation
9
A report of actual cash flow activity over a given period is a
Cash flow statement
Cash inflow
Budget
Consumer price index
10
Expenses that are the same each month are
Cash outflow
Inflation
Fixed expenses
Variable expenses
11
Cash inflows would include __________.
gifts
All of the above.
wages
interest income
12
Which of the following expenses can be reduced by combining households?
Medical expense
Income taxes
Rent expense
Education expense
13
Which of the following is typically a fixed expense?
Utilities
Entertainment
Mortgage payment
All of the above
14
Cash is worth less with higher inflation.
False
True
15
Good money management requires good recordkeeping.
True
False