Romeo and Juliet are experiencing marriage difficulties regarding money. One technique to help them control and forecast their future financial situation, as well as allow them to achieve their financial goals, would be to prepare a(n):
A) income statement.
B) balance sheet.
C) budget.
D) asset inventory.

Question

Quizplus · Accepted Answer

A budget would be the most helpful tool for Romeo and Juliet to control their expenses and plan their financial goals. It will allow them to track their income and expenses, prioritize their spending, and avoid overspending. Additionally, a budget will help them foresee any financial difficulties in the future and make the necessary adjustments to their spending habits. Income statement and balance sheet are useful tools for financial analysis, but they are not as practical for day-to-day budgeting. An asset inventory is also a helpful tool, but it focuses on the evaluation of assets rather than budgeting.

Romeo and Juliet Are Experiencing Marriage Difficulties Regarding Money