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1. It is the process of planning and handling personal financial activities such as saving and investing. 2. A financial planning process that involves the use of surveys, questionnaires, and interviews to gather quantitative and qualitative information from the individual.

1. It is the process of planning and handling personal financial activities such as saving and investing. 2. A financial planning process that involves the use of surveys, questionnaires, and interviews to gather quantitative and qualitative information from the individual.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter2: Financial Reporting: Its Conceptual Framework
Section: Chapter Questions
Problem 4C
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1. It is the process of planning and handling personal financial activities such as saving and investing. 2. A financial planning process that involves the use of surveys, questionnaires, and interviews to gather quantitative and qualitative information from the individual. 3. In this process, the individual can suggest on the proposed solutions on the financial plan. 4. A financial planning process that includes the assessment of objectives regarding the individual's resources and constraints. 5. Evaluation of the financial plan on a regular basis to see if it effectively meets the individual's goals and objectives. 6. Field of personal finance that includes risks of liability, property, death, disability, health, and long-term care. 7. Analysis of cash flows to come up with investment plans that will meet the costs of retirement in the future is involved in this area of personal finance. 8. Area of personal finance that includes an understanding of personal resources by checking an individual's net worth and cash flow. 9. Planning for the disposition of one's assets after death. 10. Understanding of possible tax incentives, deductions, rebates, etc. is included in this area of personal finance.
Transcribed Image Text:1. It is the process of planning and handling personal financial activities such as saving and investing. 2. A financial planning process that involves the use of surveys, questionnaires, and interviews to gather quantitative and qualitative information from the individual. 3. In this process, the individual can suggest on the proposed solutions on the financial plan. 4. A financial planning process that includes the assessment of objectives regarding the individual's resources and constraints. 5. Evaluation of the financial plan on a regular basis to see if it effectively meets the individual's goals and objectives. 6. Field of personal finance that includes risks of liability, property, death, disability, health, and long-term care. 7. Analysis of cash flows to come up with investment plans that will meet the costs of retirement in the future is involved in this area of personal finance. 8. Area of personal finance that includes an understanding of personal resources by checking an individual's net worth and cash flow. 9. Planning for the disposition of one's assets after death. 10. Understanding of possible tax incentives, deductions, rebates, etc. is included in this area of personal finance.
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