Which of the Following Steps Is NOT a Factor to Be

question 107

Multiple Choice

Which of the following steps is NOT a factor to be considered before making your first investment?

• A) Work to balance your budget.
• B) Manage your credit card debt.
• C) Have access to other sources of cash for emergency needs.
• D) Save at least $10,000 to invest.
• E) Start an emergency fund.

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Definitions:

Discount Period

The time frame within which a payment can be made at a reduced rate.

Asset Account

An account on a balance sheet representing resources owned by a company that have economic value.

Liability Account

A category in financial accounting that represents debts or obligations a company owes to others.

Subsidiary Ledger

A detailed ledger that contains the individual accounts necessary to support a major (control) account organized in the general ledger.