The stages that an individual goes through based on age, financial needs, and family situation is called the:
A)adult life cycle.
B)budgeting procedure.
C)personal economic cycle.
D)financial planning process
E)tax planning process.

Question

Quizplus · Accepted Answer

The adult life cycle is a concept that describes the various stages that an individual goes through based on age, financial needs, and family situation. It includes stages such as early adulthood, mid-life, and retirement. It is commonly used in financial planning to help individuals make decisions about their finances based on their current stage in life. The other answer choices (budgeting procedure, personal economic cycle, financial planning process, and tax planning process) do not accurately describe the concept of stages based on age and family situation.

The Stages That an Individual Goes Through Based on Age