Question 1

A spending plan created to help manage money.

Accepted Answer

Budget

Answer

Cash flow

Answer

Personal balance sheet

Answer

Personal financial statements

Question 2

Any difference between a budget and what was actually spent during the time period.

Accepted Answer

Budget variance

Answer

Differentiated budget

Answer

False budget

Answer

Spent budget

Question 3

The "inflow and outflow of cash during a given time period".

Accepted Answer

Cash flow

Answer

Cash flow statement

Answer

Net worth

Answer

Personal financial statements

Question 4

A record of income and expenditures for a particular period.

Accepted Answer

Cash flow statement

Answer

Net worth

Answer

Cash flow

Question 5

Those that need to be paid in full within a short period of time (less than one year).

Accepted Answer

Current liabilities

Answer

Long-term liabilities

Question 6

Money due to others that needs to be paid immediately.

Accepted Answer

Liabilities

Answer

Liquid assets

Answer

Cash flow

Question 7

Assets that can quickly and easily be converted to cash.

Accepted Answer

Liquid assets

Answer

Fast assets

Answer

Current assets

Question 8

Those that do not need to be paid in full for a longer period of time (more than one year).

Accepted Answer

Long-term liabilities

Answer

Current liabilities

Question 9

The difference between your assets and your liabilities.

Accepted Answer

Net worth

Answer

Cash flow

Answer

Budget variance

Question 10

An assessment of what you own and what you owe.

Accepted Answer

Personal balance sheet

Answer

Cash flow statement

Question 11

Snapshots of your financial situation, including your income and spending.

Accepted Answer

Personal financial statements

Answer

Net worth

Answer

Cash flow

Question 12

A private, secure storage area at a location such as a bank.

Accepted Answer

Safe deposit box

Answer

Locked box

Answer

Bank safe

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