Budget — Test Answers

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47

Which life event is most likely to increase long-term budget expenses?

A
getting a pet
B
starting a new job with a higher salary
C
taking a vacation
D
receiving a tax refund
50

In July, Makayla has a planned vacation expense of $⁢1,000 However, an unexpected home repair costing $⁢600 occurs in October. How might Makayla adjust the budget to handle the home repair and maintain the vacation plans?

A
reduce discretionary expenses in October and apply the savings to the home repair
B
skip the credit card payment in July and apply that amount to the home repair
C
borrow money to cover both the vacation and the home repair
D
postpone the vacation to the next year

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