True or false question

Put yourself in the position of a financial planner and based on what has been discussed in the lectures and/or textbook, please answer the following true/false questions or statements. Each question carries two marks. Put "TRUE" for true and"FALS" for false in the answer book with the corresponding question number (letter)

a. Personal income statement is a financial statement that describes person's financial performance at the point of time.

b. By definition personal net worth is always positive.

c. Perpetuity is a financial concept that represents defined fixed amount of payment to claimholder and never matures.

d. Credit card is a form of money.

e. Saving account growing at the annual rate of 4%, will double its value in approximately 10 years.