ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is NOT true about emergency funds?
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They are used for anything listed on the budget.
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They can keep you from borrowing money from friends and family.
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They help you prepare for unexpected expenses.
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They help remove the worry about expenses not in the budget.
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Explanation:
Detailed explanation-1: -Q. Which of the following is NOT true about emergency funds? They are used for anything listed on the budget.
Detailed explanation-2: -The correct answer is option D. Preventing net operating losses is not a part of budgeting.
Detailed explanation-3: -What is NOT true about unexpected expenses? They do not occur if you have a budget.
Detailed explanation-4: -Some common examples include car repairs, home repairs, medical bills, or a loss of income. In general, emergency savings can be used for large or small unplanned bills or payments that are not part of your routine monthly expenses and spending.
There is 1 question to complete.