BML Final Set 17 Question Preview (ID: 9564)


BML Final Set 17. TEACHERS: click here for quick copy question ID numbers.

Good money management includes
a) getting the most out of the money you have.
b) spending money only on emergencies.
c) spending far less than you make.
d) finding some way to satisfy all of your wants and needs.

Putting together a budget is
a) a waste of time if you can keep track of things in your head.
b) not very time consuming.
c) only done when required for a loan.
d) only done when seeking to influence investors.

To begin the financial planning process, you should
a) purchase life and health insurance.
b) develop financial goals.
c) seek a high-paying job or other source of money.
d) create a balance sheet and cash flow statement.

A person's reputation for paying bills on time is
a) collateral.
b) character.
c) capacity.
d) capital.

A person's ability to pay bills on time is
a) collateral.
b) character.
c) capacity.
d) capital.

If Little Jimmy has $100 and decides to go to Universal Studios instead of buying a new mp3 player, he has
a) made a poor economic decision.
b) made an economic tradeoff.
c) ignored the concept of scarcity.
d) gone against his budget.

Which of these is a disadvantage of using credit?
a) immediate possession
b) convenience
c) overbuying
d) increased credit rating

Which of these is an advantage of using credit?
a) convenience
b) overbuying
c) interest payments
d) debt

Which of these is NOT a major category of business insurance?
a) personnel
b) operations
c) property
d) technology

Which of these is NOT one of the three Cs of credit?
a) character
b) credit rating
c) capacity
d) capital

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