Asked by Valeria Martinez on May 30, 2024
Verified
Which of the following is true of Mint.com?
A) It is an online tool for managing personal finances.
B) It tracks a company's cash inflows and outflows.
C) It is a complex and sophisticated budgeting system.
D) It promotes worldwide consistency in financial reporting practices.
Mint.com
A free, web-based personal financial management service for the US and Canada, which helps users track their spending and manage their budget.
Personal Finances
The management of an individual's money and financial decisions, including budgeting, investing, and planning for the future.
Cash Inflows
The total amount of money being transferred into a business, from sales, investments, or financing activities.
- Recognize the critical importance of budgets and forecasts in planning and controlling financial resources.
Verified Answer
JJ
Julenane JulesMay 31, 2024
Final Answer :
A
Explanation :
Mint.com is an online tool designed for managing personal finances, allowing users to track their spending, create budgets, and set financial goals. It is not specifically designed for tracking a company's cash flows, nor is it a complex system or aimed at promoting worldwide financial reporting consistency.
Learning Objectives
- Recognize the critical importance of budgets and forecasts in planning and controlling financial resources.