Question

Which would be most helpful when considering a large expenditure that might require repeating payments? Check all that apply.

Answer 1

The correct options are 1,2,3 and 5.

Further explanation:

The careful consideration of short-term goals, recording income and spending over the past year, creating a budget to consider future income and spending and learning about opportunity cost, would be helpful when a considering a large expenditure that might require repeating payments.

CONSIDERATIONS FOR LARGE EXPENDITURE

An individual includes all goals that can be achieved in less than three months, which are referred to as short-term goals. An individual should carefully consider his short-term goals because when the new responsibilities of a long term goal then the more immediate goals have chances to be neglected.

Recording the number of assets helps individual to know that he has savings for an emergency. Budgeting helps in future financial situation. Opportunity cost helps an individual to understand the things that he needs to sacrifice so that he can obtain maximum value in his life.

Learn more:

1. Why is it important that goals be measurable? a. it is easier to determine when a measurable goal is met than an unmeasurable one. b. motivation is improved when progress is measurable. c. having measurable goals increases the likelihood that the goals will be attained. d. all of the above

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2. The goal of a command economy is to

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Answer details:

Grade: College

Subject: Social Studies

Topic: Considerations For Large Expenditures

Keywords: short-term goals, income, expenditure, opportunity, budget, financial situation, emergency

Answer 2

The answer is:

careful consideration of short-term goals

recording income and spending over the past year

creating a budget to consider future income and spending

learning about opportunity cost

You could include all goals that need less than 3 month to be actualized as Short-term goals . Recording income and spending allow you to make prediction of the amount of expenditures that you must pay for the following years. Opportunity cost would help you understand the things that you need to sacrifice in order to obtain maximum value in your life.