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Flashcards in chapter 12 Deck (35)
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1

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

true

2

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

all of the above

3

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

outreach

4

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

true

5

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

false

6

Someone who gives money or goods to an organization

donor

7

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

charatible organization

8

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

tax deduction

9

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

core values

10

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

aid

11

When considering donating to charity

you can start giving your time, money or talents now

12

The Five Foundations:

Are the beginner steps for establishing and maintaining financial peace

13

Which of the following statements is false?

All charitable organizations qualify for a charitable contribution deduction

14

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

true

15

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

philantropy

16

What percentage of American households give to charity?

65%

17

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

true

18

Your primary motivation for giving should be

The simple desire to help others

19

Giving should be:

First in your budget

20

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

true

21

The Fifth Foundation is Build Wealth and:

give

22

Your budget should include all of the following except:

lending money to friends

23

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

false

24

The Fifth Foundation

build wealth and give

25

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

just a few

26

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

all of the above

27

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

true

28

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

legacy

29

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

true

30

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

build your credit