Budgeting

Budgeting

8th Grade

30 Qs

quiz-placeholder

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Budgeting

Budgeting

Assessment

Quiz

8th Grade

Medium

CCSS
6.RP.A.3C, 7.RP.A.3, 3.OA.A.3

Standards-aligned

Created by

Allison Thompson

Used 1+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

How do wages and salary differ?

Wages describe what you earn on an annual basis

Salary describes what you earn on an annual basis

Wages mean you have a standard amount in each paycheck

Salaried employees are likely to be paid for overtime

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Media Image

Which of the following are TRUE about gross income and net income? (hint: choose 2 correct answers)

Gross income and net income are the same

Net income is sometimes called "take home pay"

Gross income is the total amount earned before deductions

Net income is the total amount earned before deductions

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Budgeting is crucial to your financial success.

True
False

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

If an expense can NOT be removed from your budget to save money, it is considered a _____.

Income

Want

Need

Savings

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Preparing a budget includes

Income, Expenses, Saving
Only listing your expenses
Only listing your debts
Only listing your income

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Examples of Fixed Expenses include:

Mortgage, loans, rent
Cable, entertainment, food
Gas, food, phone
Clothing, gas, food

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Car Payment

Fixed Expense
Variable Expense

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