BUS 160 exam 1-JMU Questions with Complete Solutions (Latest 2025) Personal financial planning - Correct Answers ✅arranging to spend, save, and invest money to live comfortably, have financial security, and achieve goals standard of living - Correct Answers ✅the necessities, comforts, ad luxuries we have or desire average propensity to consume - Correct Answers ✅the percentage of each dollar of income, on average, that one spends on current needs rather than savings wealth - Correct Answers ✅ones total value of all items owned by an individual, such as savings accounts, stocks, bonds, home, etc.financial assets - Correct Answers ✅intangible assets, such as savings accounts and securities, that are acquired for some promised future return tangible assets - Correct Answers ✅physical assets, such as real estate and automobiles, that can be held for either consumption or investment purposes personal financial planning - Correct Answers ✅a systematic process that considers important elements of an individual's financial affairs in order to fulfill financial goals 1 / 2
BUS 160 exam 1-JMU Questions with Complete Solutions (Latest 2025) utility - Correct Answers ✅the amount of satisfaction received from purchasing certain types of goods and services goal dates - Correct Answers ✅target dates in the future when certain financial objectives are expected to be completed long term goals - Correct Answers ✅6-40 years in the future. WILL change over time.short term goals - Correct Answers ✅12 month period.intermediate goals - Correct Answers ✅1-5 years assets - Correct Answers ✅things we own liquid assets - Correct Answers ✅cash, savings accounts, and money market funds investments - Correct Answers ✅stocks, bonds, and mutual funds personal property - Correct Answers ✅movable property i.e. car, appliances, etc
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