A Budget Is

question 94

Multiple Choice

A budget is

• A) a record of income and purchases from the previous year.
• B) a plan for spending and earning money.
• C) only necessary for individuals with low incomes.
• D) only necessary for countries suffering from financial crises.
• E) required to be balanced by Congress.

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Definitions:

Cognitive Development

The process of growth and change in intellectual capabilities such as thinking, reasoning, and understanding, through childhood and adolescence.

Developmental Changes

Refers to the physical, cognitive, and emotional growth that occurs across the human lifespan.

Accommodation

Changes in existing ways of thinking that occur in response to encounters with new stimuli or events.

Schema

A cognitive framework or concept that helps organize and interpret information, based on experience, to make sense of the world.