Week 15 Finals

Question 1

the process of competently utilizing financial assets.

Answer 1

Money management

Question 2

There are a number of elements that go into effective
money management such as

Answer 2

setting up and sticking with a budget
assessing the necessity of purchases
retiring debt within a reasonable time frame.

Question 3

Buy what you want, not what you need. If you cannot afford it, buy it. TRUE OR FALSE

Answer 3

FALSE

Question 4

The key factors to successful money management are

Answer 4

BANKING
BUDGETING
CREDIT

Question 5

A business’s financial health can depend upon the
bank it chooses

Answer 5

Banking

Question 6

When comparing banks, research all costs related to
opening and maintaining bank accounts. TRUE OR FALSE

Answer 6

TRUE

Question 7

Is an important basic tool of money
management. Without an understanding of budgeting,
businesses may face adverse consequences including
bankruptcy

Answer 7

BUDGETING

Question 8

High credit scores often result in higher interest rates or
loan refusals. TRUE OR FALSE

Answer 8

FALSE

Question 9

is essential to obtain loans and lower
interest rates.

Answer 9

healthy credit score

Question 10

focus on the amount of capital
invested or the types of financial securities that are used

Answer 10

money management strategy

Question 11

focus on eliminating debt using
techniques designed to produce financial freedom

Answer 11

personal money management

Question 12

specialize in a particular money management strategy,
such as volatility trading

Answer 12

professional trader

Question 13

Is a lot like dieting in that you want to make the process as
painless as possible for yourself.

Answer 13

Personal finance

Question 14

The most basic of all money management tools. With
this approach, you’re creating a list of your monthly bills to subtract from your
monthly income.

Answer 14

the pen and paper budget

Question 15

This process starts with careful thought at the ground level as to what is needed and what new initiatives can be started. At the same time, leadership and vision from the top offers some guidance as to what the departments can expect

Answer 15

Preparing the Management

Question 16

Money management are not approved on a yes or no basis. Instead, they are the
subject of further debate. While, at times, the political process can distort budgetary
priorities, businesses do not have to fall prey to that problem. Instead, the approval process
can be an opportunity to take another view of how your company is spending its funds

Answer 16

Approving the Money

Question 17

Once a budget is passed, it is not done. Chief executives can, if they choose, impound funds to
prevent money from being wastefully spent

Answer 17

Executing the Money management

Question 18

Auditing and evaluating also focuses on how effectively the money is being spent. It is
not enough to see who used their money and who did not. What really matters in
government and in business is where the money generated a return.

Answer 18

Evaluating the Budget

Question 19

Don’t obtain your credit score is a part of Money Management. TRUE OR FALSE

Answer 19

FALSE

Question 20

Excessive Reliance on Credit Cards is a part of Money Management. TRUE OR FALSE

Answer 20

FALSE

Question 21

Phases in money management cycle

Answer 21

1. Preparing the money management
2. Approving the money
3. Executing the money management
4. Evaluating the budget