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chapter 3

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Term
Definition
show The price at which property could be sold  
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show Documents that provide information about your current financial position and present a summary of your income and spending  
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Surplus   show
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show The difference between the amount you own and the debts you owe. This also goes up when you pay off previous debts.  
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show The situation that occurs if a person spends more money than he or she receives.  
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show The method of planning how to get the most from you money  
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Current liability   show
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Liquid assets   show
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show The money left over after essentials are paid for.  
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show A small, secure storage compartment that can be rented in a bank- can sometimes cost $100 to rent.  
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show This shows important feedback on your incomes and spending patterns.  
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show An example of this would be taxes.  
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show An example of this would be an electric bill  
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show This is the first step in planning a budget.  
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show TRUE  
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show TRUE  
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show TRUE  
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A telephone bill is a liability.   show
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show TRUE  
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Real estate is an example of a liquid asset.   show
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show FALSE  
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show TRUE  
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show TRUE  
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You should include bonuses you might get at work when you estimate your income.   show
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Created by: auweb921
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