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Instead of borrowing money for large purchases, you should set money aside in a ________ overtime and pay with cash.
True
Sinking fund
All of these
Both interest rate and length of time matter
False
True
Your own account register
False
Which of the following is a reason that people donʹt save money?
True
Sinking fund
All of these
Both interest rate and length of time matter
False
True
Your own account register
False
The envelope system works great for managing spending on things that donʹt normally have a fixed monthly expense.
True
Sinking fund
All of these
Both interest rate and length of time matter
False
True
Your own account register
False
If you write a zero-based budget every month, it is not necessary to reconcile your account.
True
Sinking fund
All of these
Both interest rate and length of time matter
False
True
Your own account register
False
Which of the following account records would have the most current balance?
True
Sinking fund
All of these
Both interest rate and length of time matter
False
True
Your own account register
False
Your income level greatly affects your saving habits.
True
Sinking fund
All of these
Both interest rate and length of time matter
False
True
Your own account register
False
You should save money for three basic reasons: emergency fund, purchases and wealth building.
True
Sinking fund
All of these
Both interest rate and length of time matter
False
True
Your own account register
False
The saving habits of Ben and Arthur best illustrate which principle of saving?
True
Sinking fund
All of these
Both interest rate and length of time matter
False
True
Your own account register
False
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