NCERT Solutions for Class 11 Home Science Chapter 10 Financial Management and Planning
Review Exercise
Thank you for reading this post, don't forget to subscribe!Question 1:
Indicate if the following statements are ‘True’ or ‘False’.
(i) Budget is the first step in money management. (True/False)
(ii) Money serves as a medium of exchange of commodities. (True/False)
(iii) Profits from business and gifts are a form of income. (True/False)
(iv) One should first estimate the cost and then list the commodities and services needed while making the budget. (True/False)
(v) Savings in physical assets are productive in economic terms. (True/False)
(vi) The trend in business cycle is an important consideration under the principal of safety. (True/False)
(vii) The time period may be ignored while considering and deciding on an investment. (True/False)
(viii) The 4 C’s of credit are character, capacity, capital and collateral (True/False)
(ix) Nature of enterprise is not an important safety consideration. (True/False)
Review Questions
Question 1:
What do you understand by ‘management of finances’?
Question 2:
Discuss the different types of income.
Question 3:
Discuss the steps in making a budget.
Question 4:
What are the controls that can be exercised in money management?
Question 5:
Discuss the principles underlying sound investments.
