Which of the following statements is false?

Giving to others should always be in the form of money.

Which of the following statements is false

all charitable organizations qualify as charitable deduction

The Five Foundations:

beginner steps for establishing financial peace

You primary motivation for giving should be

the simple desire to help others

When considering to donating to a charity:

You can start giving our time, money or talents now

When donating non-cash items to a charity, which of the following is not recommended?

Donating the items to non-local charities

studbud

MM - Ch. 12 Review

25 termsStudBud Administration141 plays

Review for Chapter 12 of Money Matters

Flashcards25 cardsFPractice quizPHost liveL

Questions 25

Answers

1
There is nothing that distinguishes your values and interest from those of other teenagers.
False
True
2
When we give to others, we become less self-focused.
True
False
3
You have to wait until you have a large income before you can help others.
False
True
4
Which of the following statements is false?
Despite what our culture says, you are unique.
You've got to know what is important to you.
knowing what you value will help you select an organization
Giving to others should always be in the form of money.
5
Which of the following should be considered when selecting a non-profit to give to.
how well-run the organization is
all of the above
the charity's commitment
you values and beliefs
6
Which of the following statements is false
all charitable organizations qualify as charitable deduction
contribution is deductible in year in which it is paid
gift to a qualified organization can a tax deduction
document contributions for tax purposes
7
Rockerfeller was a businessman in the early 1900s who is remembered only for his wealth.
True
False
8
The fifth foundation is build wealth and
give
stay out of debt
keep it all for yourself
save
9
The Five Foundations:
are unnecessary since most Americans are good at saving
are optional steps for basic money management
ar a way of establishing a high credit rating
beginner steps for establishing financial peace
10
You can be remembered for positive or negative attributes.
False
True
11
Which of the following is a way that giving to others can benefit you?
Giving can help you build relationships
All of the above
sacrificing your money, time and talent creates a legacy
giving to others can give you a sense of purpose
12
If you commit to the following Five Foundations you will have money to give.
True
False
13
Delaying the act of giving will make giving less likely in your future.
True
False
14
You primary motivation for giving should be
whether o not your friends are doing it
tax deductions
what others will think of you
the simple desire to help others
15
When considering to donating to a charity:
If you are considering tutoring or giving lessons
You should first have large income
You can start giving our time, money or talents now
You should wait and see what you friends are willing to give
16
What percentage of American households give to charity?
20%
100%
65%
5%
17
Is it better to give to many charities or just a few?
Just a few
None at all
dosen't matter
many
18
Smart donors support their favorite charities:
Short term and then move on to other charities
it is unusual for a donor to have a favorite charity
once a year
Long term
19
One financial benefit of giving money to charity is that your contribution may be tax deferred.
True
False
20
which of the following is not one of the five foundations
build your credit
build wealth and give
save $500 for emergency fund
pay cash for your car
21
Money is not the only way to give.
false
true
22
One of the most important and rewarding things you can do is give.
True
False
23
giving should be
only budgeted for if you make a lot of money
only budgeted if you come across unexpected money
first on your budget
at the endow your budget if you have money left over
24
When donating non-cash items to a charity, which of the following is not recommended?
Donating the items to non-local charities
Considering selling the items and donating cash instead
determining whether the items you wish to donate are useful
Donating the items locally
25
your budget should include all of the following except
saving
lending money to friends
giving
spending

MM - Ch. 12 Review Flashcards | StudBud