Rashid's Monthly Expenses Are $4000 and He Expects That His

question 64

Multiple Choice

Rashid's monthly expenses are $4000 and he expects that his cash flow will always be sufficient to cover his expenses.How much should he ideally have in his emergency fund?

• A)$12 000 using a combination of liquid investments and access to credit
• B)$24 000 because it is always best to be safe
• C)None,but he needs a $24 000 limit on his credit card.
• D)$12,000 invested in two- to three-year GICs to earn a higher return

---

Definitions:

Representational Competencies

The ability to use symbols or abstract elements to stand for objects and concepts, essential for language, math, and problem solving.

Criticism

The expression of disapproval of someone or something based on perceived faults or mistakes.

Object Permanence

Object permanence is the understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed, a concept typically developed during early infancy.

Piaget's Notion

The concept introduced by Jean Piaget that focuses on the cognitive development of children, outlining how they progress through distinct stages of development with increasing complexity in thought processes.