The Financial Planning Process Consists of Three Steps

question 58

Multiple Choice

The financial planning process consists of three steps:

• A)evaluate your current financial status,set financial goals,develop and use a budget.
• B)work with a financial planner,create a financial budget,devise a plan to maximize the likelihood that you will stay within your budget.
• C)calculate your total debt,determine the cash available per month to pay down the debt,develop a plan for paying off the debt.
• D)prepare a budget,prepare a list of assets and liabilities,prepare a statement of cash flows.

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Definitions:

Canada

A country located in the northern part of North America, known for its vast landscapes, multicultural diversity, and as a member of the Commonwealth.

Social Movements

Organized efforts by a large group of people to achieve specific goals, typically aimed at societal change or reform.

Social Order

An arrangement of practices and behaviors in a society that maintains harmony and structure, often governed by laws, norms, and conventions.

Collective Attempts

Efforts made by a group acting together towards a common goal or interest.