Question

question 10 of 10
money set aside to pay for small, unforeseen expenses is called a(n) ____.
a. emergency fund
b. mutual fund
c. down payment
d. equity fund

Explanation:

An emergency fund is specifically money reserved for unexpected, small or large unforeseen expenses. A mutual fund is an investment vehicle pooling money from multiple investors, a down payment is an upfront sum for a large purchase, and an equity fund is a type of mutual fund focused on stocks, none of which match the definition provided.

Answer:

A. emergency fund