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Unit 8 (IBT): Money Management Flashcards | StudBud
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Unit 8 (IBT): Money Management
Unit 8 (IBT): Money Management
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Unit 8 Money Management
Flashcards
11 cards
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Questions
11
Answers
1
Which can BEST help you develop budget categories and provide a basis for your budget?
cash flow statement
balance sheet
cost benefit analysis
paycheck stub
2
Take-home pay is the amount you have left in your paycheck
before taxes and deductions
after you pay your bills for the week
before you pay your bills for the week
after taxes anddeductions
3
Setting financial goals is the ___ step in creating and using a budget.
first
final
third
second
4
The difference between your personal assets and your personal liabilities is your
cash outflow
net income
cash flow
net worth
5
Money or other property that is turned over to a bank for a customer is said to be held in
mortgage
escrow
reserve
trust
6
A user-owned,not-for-profit, cooperative financial institution is called a
mutual savings bank
savings and loan association
credit union
commercial bank
7
A personal balance sheet would report all of the following EXCEPT
home mortgage
amount in your checking acct
value of your car
net income
8
A good first step in financial planning would be to
hire a professional financial planner
develop long-term financial goals
create a balance sheet and cash flow statement
pay off all of your debts
9
Which of the following is a non-deposit financial institution?
savings and loan association
Mutal savings bank
credit union
Life insurance company
10
The maximum amount you may owe on a revolving credit account at one time is called a
budget
finance charge
credit limit
spending limit
11
Checking accounts and debit cards are examples of a financial institution’s
lending services
saving services
payment services
investment services
