Paying off all credit card debt is an example of which step of financial planning?
A) take a financial inventory
B) know where your money goes
C) execute the plan
D) monitor and assess your plan
E) create a budget
C
Explanation: C) Executing the plan largely involves cutting expenses. Carrying a balance on your credit cards is financial suicide. Most credit card companies charge more than 18 percent on unpaid balances. Therefore, pay down your credit card debt before depositing money into a savings or investment account.
You might also like to view...
Which of the following is NOT an argument to support international trade?
a. Trade can be a powerful antimonopoly tool. b. Trade is a way to take advantage of economies of large scale production. c. Trade is a method of transferring knowledge and information. d. Trade is a method of achieving income equality across sectors of an economy.
An accounting firm collected cash on account. As a result of this transaction, total assets, liabilities, and equity are all unchanged
Indicate whether the statement is true or false
Grill Lovers, a Manufacturing Co that makes gas grills for outdoor cooking, sold several of its grills to Premier Home Company located in a large city. Ferris, who purchased a gas grill from Premier, was seriously injured while grilling steaks outside for a family outing. The injury resulted from a manufacturing defect in the gas line which caused an explosion as he was cooking over the grill. In
a product liability suit based on strict liability, Ferris may bring a law suit against: a. Grill Lovers only. b. Premier only. c. Grill Lovers or Premier. d. none since Ferris does not have a case.
Memorial Hermann Hospital decides to redo its kitchen with new flooring, cabinets, counters, and appliances. The hospital compiles a description of the project and then asks sellers to submit bids. After determining the most attractive bids, the hospital will then work with two or three companies to determine who will get the contract. This is an example of using ____ for a purchase decision.
A. sampling B. negotiation C. inspection D. elimination E. description