Budget Basics Pretest

Front

What two things does a budget compare?

Back

Income and Expenses

Front

Which of the following is a true statement about saving receipts?

Back

Saving receipts allows you to keep an accurate record of your spending.

Front

Do people who earn paychecks pay income taxes to the government?

Back

True

Front

Which of the following is an example of a need for most people? A place to live, A nice car, Designer jeans

Back

A place to live

Front

Something you like to have such as toys.

Back

wants

Front

What is a need?

Back

Something we need in order to survive.

Front

The circle graph shows Haley’s monthly budget. What percent of her budget is for housing?

Back

28%

Front

If Moore's monthly income is $5,000, what amount of their budget is spent on miscellaneous expenses?

Back

$200

Front

Money is withdrawn directly from a checking or savings account.

Back

Debit

Front

Each purchase is a loan that is repaid later. What type of transaction does this describe? Options: Credit, Debit, Both

Back

Credit