1.The monthly budget showed that a family planned to spend $660 for food during March but only spent $490. This difference would be referred to as a:

a Budget variance.

b Budgeted Production.

c Contribution to Net worth.

d Deficit.

e Fixed Living Expense.

2.Given the following information, calculate the net worth:

Assets = $5,800

Cash inflows = $5,600

Cash outflows = $2,800

Liabilities = $2,100

a $700

b $2,800

c $200

d $2,100

e $3,700