question 1\nthe last step in the financial planning process is to\nuse financial statements to evaluate…

question 1\nthe last step in the financial planning process is to\nuse financial statements to evaluate results of plans and budgets, taking corrective action as required\nredefine goals and revise plans and strategies as personal circumstances change\nimplement financial plans and strategies.\ndevelop financial plans and strategies to achieve goals\nperiodically develop and implement budgets to monitor and control progress toward goals\nquestion 2\nmoney is\nthe purpose of our economy.\nthe reason for all transactions.\na medium of exchange.\na measure of propensity to consume.\na medium of consumption.

question 1\nthe last step in the financial planning process is to\nuse financial statements to evaluate results of plans and budgets, taking corrective action as required\nredefine goals and revise plans and strategies as personal circumstances change\nimplement financial plans and strategies.\ndevelop financial plans and strategies to achieve goals\nperiodically develop and implement budgets to monitor and control progress toward goals\nquestion 2\nmoney is\nthe purpose of our economy.\nthe reason for all transactions.\na medium of exchange.\na measure of propensity to consume.\na medium of consumption.

Answer

Brief Explanations:

  • For Question 1: The financial planning process involves setting goals, developing plans, implementing them, and then evaluating results and making adjustments as circumstances change. The last step is to re - evaluate and adjust based on new situations.
  • For Question 2: Money serves as a medium of exchange, allowing people to trade goods and services without the need for barter. It is not the purpose of the economy, nor the reason for all transactions in a fundamental sense, and it is not a measure of propensity to consume or a medium of consumption.

Answer:

Question 1: redefine goals and revise plans and strategies as personal circumstances change Question 2: a medium of exchange