ECONOMICS
MONEY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Detailed explanation-1: -You have to look at your budget regularly and adjust it if things change. You also have to think about your future plans and make sure you that you save enough to be able to meet your financial goals. Remember that you set your own goals, so it is up to you to meet them.
Detailed explanation-2: -A fixed budget shows the expected results of a responsibility center for only one activity level. Once the budget has been determined, it is not changed, even if the activity changes.
Detailed explanation-3: -Going over budget can disrupt your finances. For instance, it might cause you to pile up more debt. That, in turn, could lead to a lower credit score. But if you follow these three steps, you can reduce potential issues with overspending.
Detailed explanation-4: -Errors by the creators of the budget can occur when the budget is being compiled. Changing business conditions, including changes in the overall economy or global trade, can cause budget variances. More items