What is the primary purpose of a financial plan?
GFL Strand 5, Standard 1: Budgeting

Flashcard
•
Business
•
11th Grade
•
Hard
Quizizz Content
FREE Resource
Student preview

20 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Back
To prepare a strategy for managing income, expenses, and savings goals
2.
FLASHCARD QUESTION
Front
What is a fixed expense in a budget?
Back
A car loan payment that does not change monthly.
3.
FLASHCARD QUESTION
Front
Which is an example of a variable expense?
Back
A fluctuating utility bill based on monthly consumption
4.
FLASHCARD QUESTION
Front
What is the purpose of an emergency fund?
Back
To pay for unplanned medical bills or urgent car repairs
5.
FLASHCARD QUESTION
Front
What percentage of income is suggested for saving in the 70-20-10 budgeting rule?
Back
10% saved toward retirement and emergencies
6.
FLASHCARD QUESTION
Front
What is a financial goal?
Back
A clear savings target, like $5,000 for emergencies.
7.
FLASHCARD QUESTION
Front
What is commonly used to track income and expenses? Options: A monthly budget worksheet showing all spending, Bank statements from checking and savings accounts, Tax returns detailing annual earnings and refunds, Financial apps focused on investment monitoring
Back
A monthly budget worksheet showing all spending
Create a free account and access millions of resources
Similar Resources on Quizizz
15 questions
Lesson 3.1/3.2 Flashcard

Flashcard
•
11th Grade
15 questions
TEST - Understanding Budgeting and Proportions

Flashcard
•
12th Grade
16 questions
TEST - Understanding Budgeting and Proportions

Flashcard
•
12th Grade
15 questions
Budget

Flashcard
•
11th Grade
15 questions
Creating a Personal Budget

Flashcard
•
11th Grade
15 questions
Budget

Flashcard
•
11th Grade
15 questions
Taskcard Card Assignment #1 - #10

Flashcard
•
12th Grade
15 questions
Unit 4 Budgeting Test Review

Flashcard
•
12th Grade
Popular Resources on Quizizz
15 questions
Multiplication Facts

Quiz
•
4th Grade
20 questions
Math Review - Grade 6

Quiz
•
6th Grade
20 questions
math review

Quiz
•
4th Grade
5 questions
capitalization in sentences

Quiz
•
5th - 8th Grade
10 questions
Juneteenth History and Significance

Interactive video
•
5th - 8th Grade
15 questions
Adding and Subtracting Fractions

Quiz
•
5th Grade
10 questions
R2H Day One Internship Expectation Review Guidelines

Quiz
•
Professional Development
12 questions
Dividing Fractions

Quiz
•
6th Grade