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When is your spending plan complete?
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Money in the paycheck he will receive next week
Decrease expenses
the balance on his credit card.
Gasoline, food, and entertainment
Spending plans are always under revision so they are never complete.
increase his assets
Assets – liabilities = net worth
To increase his net worth, Jackson could:
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Money in the paycheck he will receive next week
Decrease expenses
the balance on his credit card.
Gasoline, food, and entertainment
Spending plans are always under revision so they are never complete.
increase his assets
Assets – liabilities = net worth
Brett is creating a Statement of Financial Position and needs to list his assets. Which of the following should he not list as an asset?
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Money in the paycheck he will receive next week
Decrease expenses
the balance on his credit card.
Gasoline, food, and entertainment
Spending plans are always under revision so they are never complete.
increase his assets
Assets – liabilities = net worth
Amanda and Marcus just finished their Income and Expense Statement for last month. They discovered that they have a net gain. What does this mean and what should they do?
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Money in the paycheck he will receive next week
Decrease expenses
the balance on his credit card.
Gasoline, food, and entertainment
Spending plans are always under revision so they are never complete.
increase his assets
Assets – liabilities = net worth
Jonah is writing down his liabilities to complete his Statement of Financial Position. The item he should include would be:
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Money in the paycheck he will receive next week
Decrease expenses
the balance on his credit card.
Gasoline, food, and entertainment
Spending plans are always under revision so they are never complete.
increase his assets
Assets – liabilities = net worth
If expenses were to exceed income on a spending plan, what would be a financially smart solution?
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Money in the paycheck he will receive next week
Decrease expenses
the balance on his credit card.
Gasoline, food, and entertainment
Spending plans are always under revision so they are never complete.
increase his assets
Assets – liabilities = net worth
Chase has decided to work with a spending plan so he can build up an emergency fund for when he is in college. He learned in class that he could probably reduce his spending the most by looking at his noncontractual expenses. Which of his expenses be
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Money in the paycheck he will receive next week
Decrease expenses
the balance on his credit card.
Gasoline, food, and entertainment
Spending plans are always under revision so they are never complete.
increase his assets
Assets – liabilities = net worth
Which formula should Jordyn use to calculate her net worth?
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Money in the paycheck he will receive next week
Decrease expenses
the balance on his credit card.
Gasoline, food, and entertainment
Spending plans are always under revision so they are never complete.
increase his assets
Assets – liabilities = net worth
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