Developing a Monthly Budget as Part of Your Annual Financial

question 89

Multiple Choice

Developing a monthly budget as part of your annual financial plan to determine excess cash or cash deficiencies, and then developing a plan to invest (or fund) the excess (deficient) cash position is a process called

• A) personal financial accountability.
• B) money management.
• C) liquidity management.
• D) budgeting.

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Definitions:

Bakery

A place where bread, pastries, cakes, and other baked goods are made or sold.

Gross Domestic Product

Measures the total value of all goods and services produced within a country’s borders over a specific time period, indicative of its economic health.

Sanitation

Measures aimed at promoting hygiene and preventing disease, especially through the provision of clean water and disposal of sewage and waste.

Mobiles

Portable electronic devices with connectivity capabilities, such as smartphones and tablets, used for communication and information access.