General Vocabulary Flashcards
(5 cards)
1
Q
bankruptcy
A
a legal process in which a court takes over some of the finances of a person who is unable to pay his or her bills
2
Q
liquid asset
A
things you might have that can be rapidly converted to cash without a risk of significant loss ex: cash on hand
3
Q
opportunity cost
A
cost of pursuing one option instead of another expressed as the value of the activity you gave up
4
Q
personal finance
A
financial issues that affect an individual
5
Q
personal financial planning
A
the process of planning out every aspect of your personal finances
