100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
WISE Latest Update with Complete Solutions $9.99   Add to cart
Quickly navigate to
Preview
  2.  
  3. WISE
  4.  
  5. WISE

Exam (elaborations)

WISE Latest Update with Complete Solutions
 10 views  0 purchase
  • Course
  • WISE
  • Institution
  • WISE

WISE Latest Update with Complete Solutions What term describes a plan for overseeing financial inflows and expenditures? A budget What does income refer to in financial terms? Income is the compensation or earnings received in exchange for labor or other resources. How would you def...

[Show more]

Preview 3 out of 17  pages

Document information

  • August 1, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • wise latest update with complete solutions

Written for

  • WISE
  • WISE

Seller

avatar-seller
BrilliantScores

Reviews received

Content preview

1 WISE Latest Update with Complete Solutions What te rm describes a plan for overseeing financial inflows and expenditures? ✔✔A budget What does income refer to in financial terms? ✔✔Income is the compensation or earnings received in exchange for labor or other resources. How would you define e xpenses? ✔✔Expenses are the costs or amounts spent on various needs and wants. What are fixed expenses? ✔✔Fixed expenses are regular financial commitments that generally remain the same each month. What are variable expenses? ✔✔Variable expenses are costs that fluctuate and are not obligatory, changing periodically. 2 What is a deficit in financial terms? ✔✔A deficit is the situation where expenditures exceed income or costs surpass revenues. What does discretionary inc ome mean? ✔✔Discretionary income is the portion of your earnings available for spending, investing, or saving after accounting for essential expenses and taxes. What is disposable income? ✔✔Disposable income is the money available for consumptio n or saving after income taxes have been deducted. What is the purpose of an emergency fund? ✔✔An emergency fund is a financial reserve set aside to cover unexpected events, such as job loss or urgent expenses. What are goals in financial plannin g? ✔✔Goals are specific objectives or outcomes that one aims to achieve. 3 What are short -term goals? ✔✔Short -term goals are objectives that can be accomplished within a brief period, typically from one to three months. What is an intermediary goal? ✔✔An intermediary goal is a target achievable within a timeframe of three months to one year. What constitutes a long -term goal? ✔✔A long -term goal is an objective that generally requires more than one year to accomplish. What are wants? ✔✔Wants are desires or items that are not essential for survival but are desired. What are needs? ✔✔Needs are fundamental necessities required for basic survival, such as food, clothing, and medical care. What is meant by op portunity costs?

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller BrilliantScores. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

78252 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart