In Order for Your Financial Plan to Be Realistic and Attainable

question 6

Multiple Choice

In order for your financial plan to be realistic and attainable it needs to be based upon your

• A)budget.
• B)income level.
• C)number of tax deductions,exemption,exclusions,and credits.
• D)balance sheet.
• E)none of the above.

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Definitions:

Owners

Owners are individuals or entities that hold legal title to assets, businesses, or property.

Business Entity Principle

The accounting concept that separates the transactions of a business from those of its owners or other businesses.

Operating

Pertaining to the core business functions and activities of an organization that contribute to the production of goods or services.

General Principles

Broad and fundamental guidelines or rules that form the basis for a field of study or profession.