Summative Test

Question 1

1. Which of the following is an example of investing?

Answer 1

A. Paying off a personal loan
B. Purchasing a new car in cash
C. Opening a savings account
D. Buying shares of a mutual fund

Question 2

2. Which of the following action is most closely associated with creating a budget?

Answer 2

A. Applying for a credit card with a low-interest rate
B. Tracking income and expenses over a set period
C. Investing in the stock market
D. Taking out a personal loan

Question 3

3. Which of the following is a primary goal of forecasting in business?

Answer 3

A. Analyzing past performance
B. Predicting future trends and outcomes
C. Managing day-to-day operations
D. Creating detailed financial statements