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Venture_Lesson 1_Building a Balanced Budget

Authored by Karen Eslinger

Business

9th - 12th Grade

Used 410+ times

Venture_Lesson 1_Building a Balanced Budget
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are taxes?

Taxes are sources of income.

Taxes are optional payments you make to state and local governments.

Taxes are refunds you receive for overpayment.

Taxes are mandatory payments you make to state and local governments.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a tax you must pay?

Bounced check

Late fee

Rental payment

Social security

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is take home pay?

The amount you earn each month in income minus what you save.

The amount you earn each month in income minus what you spend.

The amount left over from your monthly paycheck before deductions.

The amount left over from your monthly paycheck after deductions.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be an example of a NEED?

A new pair of headphones

Designer shoes

Your favorite candy

A warm winter coat

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following would be an example of a WANT?

A place to live

Critical medicine

A warm winter coat

Movie tickets

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following items are typically included in a balanced budget?

The amount you earn in income.

The amount you pay in taxes.

The amount to put away in savings.

All of these items are included in a balanced budget.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a fixed expense?

Rental payment

Movie tickets

Internet service

Cell phone bill

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