8. The first step in the budgeting process is: a) Organizing b) Setting a financial goals c) Decision making d) Evaluation 9. Your mortgage or rent payment is part of your a) Fixed Assets b) Current Assets. c) Fixed Expenses, d) Variable Expenses. 10. Write in a proper format the items that are included in your balance sheet? . tatement 10. Write in a proper format the items that are included in your balance sheet?! 11. Assume the following information is obtained from your income statement Salary....... ....... $20,000 Taxes... ...... $2,000 Expenses.......... $8,000 Calculate: a) Surplus/deficit, b) the saving ratio