Financial Planning – Flashcards
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What are Social Security taxes used for?
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Income for retired and disabled people
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How might taxes have an impact on your financial plan?
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Taxes control how much of your income you keep.
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What does a wholesaler do?
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Purchases products in bulk and then sells them to other retailers
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Which of the following is true about wants?
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They are discretionary expenses
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Which of the following is a financial goal?
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Renting an apartment
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Which of the following is a short-term financial goal?
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Buying a birthday gift for a friend
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What is a tax bracket?
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The rate at which income is taxed
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Which of the following is an unexpected expense?
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Car repairs
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What does a person's will list?
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What should happen to their finances after they die
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Which of the following is a variable expense?
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Groceries
