alleryStart learning →A spending and saving plan is built by setting which two totals against each other?
AAssets and debts you hold
BWages and tax you pay
CIncome and expenses
DSavings and interest
Answer & Solution
Correct answer: C. Income and expenses
1. Income is the money you receive and expenses are how you use that income.
2. A spending and saving plan totals each side and sets one against the other.
3. The comparison has three possible outcomes: zero, positive, or negative.
4. Assets and debts describe what you own and owe, which is a different statement.
_Source: FDIC Money Smart for Adults (September 2018), Module 4: Your Spending and Saving Plan, section Apply It: Making My Spending and Saving Plan_
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