With Respect to Personal Financial Planning, the First Thing to Do

question 135

True/False

With respect to personal financial planning, the first thing to do with any extra money you have is to start a savings plan.

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Definitions:

Accounts Payable

A bookkeeping record indicating a business's need to settle a short-term financial debt owed to its lenders or vendors.

Merchandise Inventory

Goods that a retail or wholesale company intends to sell to customers for a profit.

Sales Invoice

A document issued by a seller to a buyer, listing items or services supplied and specifying the amount due for payment.

Purchase Order

A formal document sent from a buyer to a supplier to authorize the purchase of products or services under specified terms and conditions.