Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
PF 8.02
Test Description: 8.02 questions and vocab
Instructions: Answer all questions to get your test result.
1) Matt wants to find out if he can live within his means during a typical month. He needs to prepare a(n):
A
income and expense statement
B
balance sheet
C
savings plan
D
spending plan
2) After Celia started using a spending plan, she found she was less likely to have to ask her parents for advances on her allowance. Which benefit of financial planning is this?
A
Being financiall independent
B
Less worrying about money
C
Increased sense of security
D
Living within one\\\'s means
3) Kris spends $300 a month on designer clothes. She should list this on her balance sheet as a(n):
A
asset
B
liability
C
net worth
D
balance sheet
4) What is net gain?
A
The amount of additional money needed when expenses are greater than income
B
Anything with monetary value that a person owns
C
Anything that is owed to someone else; a debt
D
The amount of money one has after subtracting expenses from income
5) What is an asset?
A
Total earnings received
B
Anything that is owed to someone else; a debt
C
Anything with monetary value that a person owns
D
The amount of additional money needed when expenses are greater than income
6) What is a liability?
A
Anything that is owed to someone else; a debt
B
Anything with monetary value that a person owns
C
Total earnings received
D
The amount of additional money needed when expenses are greater than income
7) What is net worth?
A
The amount of money remaining when total liabilities are subtracted from total assets
B
A financial statement that shows the assets, liabilities, and net worth of an individual or family
C
A document or tool that shows personal financial information/data
D
A financial statement that shows all income and expenses of an individual or family
8) What is an income and expense statement?
A
The amount of money remaining when total liabilities are subtracted from total assets
B
A document or tool that shows personal financial information/data
C
A financial statement that shows the assets, liabilities, and net worth of an individual or family
D
A financial statement that shows all income and expenses of an individual or family
9) What is a balance sheet?
A
A financial statement that shows the assets, liabilities, and net worth of an individual or family
B
A document or tool that shows personal financial information/data
C
The amount of money remaining when total liabilities are subtracted from total assets
D
A financial statement that shows all income and expenses of an individual or family
10) What is a spending plan?
A
A document or tool that shows personal financial information/data
B
A financial statement used to plan income and expenses for a future time period; also known as a bud
C
A financial statement that shows all income and expenses of an individual or family
D
A financial statement that shows the assets, liabilities, and net worth of an individual or family
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?