After Taking This Class, You Decide to Create a Financial

question 23

Multiple Choice

After taking this class, you decide to create a financial plan. You follow your plan all through college, allocating the money from your part-time job to pay for necessities and putting some money into a savings account. After you graduate, you receive a job offer that includes a $40,000 a year salary, benefits, and paid vacation. Based on this salary, you adjust the amount you are putting away in savings by increasing it to $250 a month. This is part of which stage of creating a financial plan?

• A) Implementing, monitoring, and revising your financial plan
• B) Setting goals
• C) Taking control of your finances
• D) Creating an emergency fund

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Definitions:

Denominated

To specify the currency in which a financial transaction or instrument is expressed or required to be settled.

Exchange Rate

The price of one country's currency expressed in the currency of another country.

Subsequent Measurement

The re-evaluation of an asset or liability's carrying amount at each reporting date after its initial recognition, considering factors such as depreciation or amortization.