The Advantages of Personal Financial Planning Include

question 101

Multiple Choice

The advantages of personal financial planning include:

• A)Increased effectiveness in obtaining,using and protecting your financial resources
• B)Increased control of your financial affairs by avoiding excessive debt and bankruptcy
• C)Improved personal relationships resulting from better communicated financial decisions
• D)All of these
• E)None of these

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Definitions:

Maximizing Profits

The process of adjusting inputs and outputs in production or service delivery to achieve the highest possible financial gain.

Revenue Per Bushel

The amount of money generated for each bushel of a commodity sold, commonly used in agriculture.

Profits

The financial gain obtained when revenues generated from business activities exceed the expenses, costs, and taxes involved in sustaining these activities.

Farmer

A person involved in farming, cultivating live entities for consumption or base materials.