5 Written questions
5 Matching questions
- Spending Plan
- Tax Deduction
- Record keeping
- Long-Term Care Insurance
- Time Value of Money
- a Covers specific costs of custodial care in a nursing facility or at home.
- b An expense that a taxpayer can subtract from taxable income. Examples include deductions for home mortgage interest and for charitable gifts. (See Tax credit and Tax exemption.)
- c Another name for budget.
- d The potential of an investment to increase in value through periodically compounded earnings.
- e The process of keeping an orderly account of a person's financial affairs, including income earned, taxes paid, household expenditures, loans, insurance policies, and legal documents.
5 Multiple choice questions
- The process of calculating risk and devising methods to minimize or manage loss, for example, by buying insurance or diversifying investments.
- Money that financial institutions, governments, or corporations pay for the use of investors' money.
- Compensation for work, expressed as an annual sum and paid in prorated portions regularly— usually weekly, bi-weekly, or monthly. (See Wage.)
- The location where a transaction occurs. POS software can track sales, inventory, and customer information.
- The cost of goods and services, including those that are fixed (such as rent and auto loan payments) and those that are variable (such as food, clothing, and entertainment).
5 True/False questions
Debt → Something owed, usually measured in dollars.
Repossession → Payment and benefits for work performed; also payment to injured or unemployed workers or their dependents.
Rent → A legal arrangement through which a trustor manages a trustee's assets for the good of one or more beneficiaries.
Credit Counseling Service → An organization that provides debt and money management advice and assistance to people with debt problems.
Decision making, systematic → The process of calculating risk and devising methods to minimize or manage loss, for example, by buying insurance or diversifying investments.