Financial Plans Should Be Monitored and Updated on an Ongoing

question 56

True/False

Financial plans should be monitored and updated on an ongoing basis. Examples of changes that can necessitate financial plan updating include changes in wealth, time horizon, liquidity requirements, tax circumstances, and regulations.

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Definitions:

Link Data

The process of connecting data from different sources so that they can interact with each other within a database or spreadsheet.

Access Database

A Microsoft database management system that integrates the relational Microsoft Jet Database Engine with a graphical user interface and tools for software development.

Original File

The initial version of a file before any edits or modifications are made, often serving as a backup or reference point.

Template

A predesigned document or file that serves as a starting point for a new document, containing predefined formatting and structure.