A Budget System That Involves Envelopes, Folders, or Containers to Hold

question 32

Multiple Choice

A budget system that involves envelopes, folders, or containers to hold money or slips of paper is called a

• A) Mental budget.
• B) Physical budget.
• C) Written budget.
• D) Digital budget.
• E) Allocated budget.

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Definitions:

Employee Pension Plan

An employee pension plan is a retirement plan funded by an employer that provides a fixed payout to retirees, usually based on factors such as salary history and length of employment.

Vested

Having an absolute right to an asset, benefit, or privilege, which is not contingent upon fulfilling any condition or the occurrence of a specific event.

After-School

Activities, programs, or care provided for children after regular school hours.

Economically Disadvantaged

Referring to individuals or groups that experience a lower standard of living due to a lack of income, wealth, or access to basic resources.