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Question: 1. What do you believe to be the major characteristics of an effective system to keep track of financial documents and records?

2. How might financial ratios be used when planning and implementing financial activities?

3. Discuss with several people how a budget might be changed if a household faced a decline in income. What spending areas might be reduced first?

4. What are long-term effects of low savings for both individuals and the economy of a country?

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