
TEST - Understanding Budgeting and Proportions
Flashcard
•
Mathematics
•
12th Grade
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is an example of a day-to-day expense?
Back
Paying for groceries.
2.
FLASHCARD QUESTION
Front
What is important to distinguish between for financial stability?
Back
Needs and wants.
3.
FLASHCARD QUESTION
Front
How is a proportion best described?
Back
A relationship between two ratios.
4.
FLASHCARD QUESTION
Front
What term describes expenses that do not change from month to month?
Back
Fixed expenses.
5.
FLASHCARD QUESTION
Front
In the 50/30/20 budget strategy, what does the 30% represent?
Back
Wants.
6.
FLASHCARD QUESTION
Front
What are fixed expenses?
Back
Expenses that remain constant each month, such as rent or mortgage.
7.
FLASHCARD QUESTION
Front
What are variable expenses?
Back
Expenses that can change from month to month, such as groceries or entertainment.
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