Financial Management Concepts Quiz
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Questions and Answers

Which of the following is an advantage of using credit cards for purchasing goods and services?

  • Immediate impact on bank account balance
  • No risk of overspending beyond one's means
  • Limited acceptance at various merchants
  • Ability to build a credit history and improve credit score (correct)

    • What is a key step in achieving savings goals?

  • Relying solely on windfall gains
  • Setting a specific and realistic savings target (correct)
  • Ignoring regular monitoring of savings progress
  • Investing all savings in high-risk ventures

    • What is the concept of interest rates primarily associated with?

  • Real estate market trends
  • Stock market fluctuations
  • Government tax policies
  • Cost of borrowing or lending money (correct)

    • What is an example of distributing financial resources among individuals and organizations?

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