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Unit 6: Managing Money To Meet My Goals
Test Description: Financial Responsibility
Instructions: Answer all questions to get your test result.
1) An estimate of income and expenditure for a set period of time is call a(n)
A
consumer
B
budget
C
expense
D
cash flow
2) The total amount of money being transferred into and out of a business or household is called a(n)
A
budget
B
cash flow
C
income
D
expense
3) A person who purchases good and services for personal use is called a(n)
A
expense
B
dependent
C
budget
D
consumer
4) The process by which business decisions are analyzed, then benefits of a given action are summed, and then the costs associated with that action are subtracted is a(n)
A
financial advisor
B
budget
C
cost comparison
D
cost-benefit analysis
5) The process of comparing the price of different products or services is a(n)
A
cost-benefit analysis
B
cost comparison
C
gross income
D
budget
6) Financially sound enough to justify the extension of credit with regards to repayment history and credit score
A
cash flow
B
depreciation
C
creditworthy
D
budget
7) A person who relies on another, especially for financial support
A
consumer
B
cash flow
C
dependent
D
income
8) A reduction in the value of an asset with the passage of time
A
expense
B
depreciation
C
cash flow
D
inflation
9) The cost required for something; the money spent on something
A
income
B
depreciation
C
cash flow
D
expense
10) A person who is employed to provide financial services or guidance to clients
A
financial advisor
B
consumer
C
dependent
D
expense
*select an answer for all questions
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