TEKS: Chapter 113. Social Studies See All Teacher Resources

113.49.c.2

(2) Earning and spending. The student understands how financial statements are used to assess and monitor financial well-being. The student is expected to:

• (A) reconcile a bank statement with personal records to ensure the accuracy of deposits, withdrawals, and transfer activities;
• (B) track income and expenses and develop an income statement;
• (C) develop a budget that incorporates short-, medium-, and long-term financial goals;
• (D) identify assets and liabilities;
• (E) construct a balance sheet or net worth statement; and
• (F) evaluate the impact of unplanned spending on a budget.