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Flashcards in chapter 12 Deck (35)
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1
Q

If you commit to following the Five Foundations, you will have more money to give to others(t/f)

A

true

2
Q

Which of the following is a way that giving to others can benefit you?

A

all of the above

3
Q

The practice of providing help and advice to people in a community before they have to ask for it

A

outreach

4
Q

One of the most important and rewarding things you can do is give(t/f)

A

true

5
Q

John D. Rockefeller was a businessman in the early 1900s who is remembered only for his wealth.(t/f)

A

false

6
Q

Someone who gives money or goods to an organization

A

donor

7
Q

An organization set up to provide help and raise money for those in need

A

charatible organization

8
Q

A reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer’s income bracket

A

tax deduction

9
Q

Traits or qualities that represent an individual’s highest priorities, deeply held beliefs and motivating forces; one’s guiding principles

A

core values

10
Q

To give money, food or other help to a country or organization that needs it

A

aid

11
Q

When considering donating to charity

A

you can start giving your time, money or talents now

12
Q

The Five Foundations:

A

Are the beginner steps for establishing and maintaining financial peace

13
Q

Which of the following statements is false?

A

All charitable organizations qualify for a charitable contribution deduction

14
Q

Delaying the act of giving will make giving less likely in your future.(t/f)

A

true

15
Q

Means ʺlove of humanityʺ; identifying and exercising one’s values in giving and volunteering

A

philantropy

16
Q

What percentage of American households give to charity?

A

65%

17
Q

One financial benefit of giving money to charity is that your contribution may be tax deductible(t/f)

A

true

18
Q

Your primary motivation for giving should be

A

The simple desire to help others

19
Q

Giving should be:

A

First in your budget

20
Q

Money is not the only way to give.(t/f)

A

true

21
Q

The Fifth Foundation is Build Wealth and:

A

give

22
Q

Your budget should include all of the following except:

A

lending money to friends

23
Q

There is nothing that distinguishes your values and interests from those of other teenagers.(t/f)

A

false

24
Q

The Fifth Foundation

A

build wealth and give

25
Q

Is it better to give to many charities or just a few?

A

just a few

26
Q

Which of the following should be a consideration when selecting a nonprofit to which you’d like to contribute?

A

all of the above

27
Q

When we give to others, we become less self-focused(t/f)

A

true

28
Q

Anything handed down from the past; something that someone has achieved that continues to exist after they are gone

A

legacy

29
Q

You can be remembered for positive or negative attributes.(t/f)

A

true

30
Q

Which of the following is not one of the Five Foundations?

A

build your credit

31
Q

Smart donors support their favorite charities:

A

long term

32
Q

Which of the following statements best explains why income alone does not determine wealth?

A

How much money a person makes does not dictate his or her spending and saving behavior

33
Q

Organizations that use money raised to achieve their goals rather than distributing them as profit

A

nonprofits

34
Q

When donating non-cash items to a charity, which of the following is not recommended?

A

donating the items to non-local charities

35
Q

You have to wait until you have a large income before you can help others.(t/f)

A

false