Lemonade Tycoon Practice

Front

An IOU is an example of: A savings account, Your new favorite band, A personal loan, A spending plan.

Back

A personal loan.

Front

How does your money grow once you put it in a savings account?

Back

The bank gives you more money over time.

Front

Which of these is not an example of income? Money you earn from your lemonade stand. Money your grandma gave you for your birthday. Money you borrowed from your friend. Money you get for an allowance.

Back

Money you borrowed from your friend.

Front

What is a good example of a financial goal? Options: To save for a college fund., To buy a new guitar and pay for lessons., To earn enough to buy a pet hamster., All of the above.

Back

All of the above.

Front

What’s the best way to make change at the grocery store?

Back

Using the fewest coins and dollars possible.

Front

Why would someone create a budget?

Back

To keep track of money earned and money spent.

Front

Which of the following could be considered a business expense?
Options:
Back-to-school clothes.
The money you put into your savings account every month.
Fees for your soccer team.
The dog treats you bought for your dog-walking job.

Back

The dog treats you bought for your dog-walking job.

Front

You make $12.75 running a lemonade stand with your BFF. If your supplies cost $3.75 to purchase and you split the profit equally with your friend, how much money will you make?

Back

$4.50.

Front

What is the best way to create a budget? Options: Put everything into one jar and withdraw from it as needed., Divide your money into categories according to what the money is for., Divide your money in half. Save half and spend half., Put $20 into savings, $20 into IOU, and the rest into spending.

Back

Divide your money into categories according to what the money is for.

Front

Your little sister tells you she wants to buy some taffy from the store, but doesn’t have enough money. If you give her the money and make her promise to pay it back, what are you doing?

Back

Lending her money.