If You Do Not Budget for Unexpected Expenses in a Given

question 84

Multiple Choice

If you do not budget for unexpected expenses in a given month, you will likely experience a(n)

• A) cash shortage.
• B) cash surplus.
• C) increase in assets.
• D) decrease in liabilities.

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Definitions:

Later life

A phase in an individual's life cycle following middle age, often characterized by retirement, aging, and significant lifestyle changes.

Care work

Labor, often unpaid and performed by family members, associated with the care of the young, elderly, or sick, including both physical and emotional support.

Psychological costs

The mental and emotional toll or burdens that can result from stressful experiences or significant life events.

Economic costs

The total value of all the resources used to produce a good or service, including both direct and indirect expenses.