Identify and Give the Historical Significance of Each of the Following

question 140

Essay

Identify and give the historical significance of each of the following terms, events, and people in a paragraph or two.
-triangulation

Calculate net worth and understand its importance in personal finance.

Understand and calculate savings ratios for personal financial analysis.

Recognize the significance of budgeting in managing finances and reaching financial goals.

Identify and differentiate between fixed and variable expenses in personal budgeting.

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Definitions:

Sole Proprietorship

An unincorporated firm owned and operated by one person.

Money Income

It refers to the total amount of monetary earnings received by an individual or household, including wages, salaries, and other forms of financial income.

Revenues

The sum of money a business acquires from selling goods or offering services over a certain time frame.

Households

Economic units that represent all individuals living in a single dwelling, sharing income and expenses; primary consumers in the economy.