Prepare a Budget

Which of the following is an example of a personal asset?

• Credit card balance

• Rent

• Cash

• Mortgage

An individual has total assets of $120,000 and total liabilities of $80,000. What is his net worth?

• $40,000

• $50,000

• $60,000

• $30,000

Tags

CCSS.6.NS.C.5

Which of the following is an itemized summary of the expected income and expenses for a defined period of time?

• Net worth

• Budget

• Equity

• Balance sheet

Which of the following refers to personal belongings which have value?

• Net profit

• Net worth

• Liabilities

• Assets

Which of the following is the sum of the individual’s current assets minus the individual’s total liabilities?

• Net worth

• Variable expenses

• Liquid assets

• Budget

Expenses for electricity, natural gas, heating oil, and water.

• mean

• price

• utility

• income

Electricity is sold by the:

• cubic foot

• watt

• kilowatt-hour

• watt-hour

Emily's last water bill listed a previous reading of 7,123 ccf and a present reading of 7,171 ccf. Her water company. charges $0.73 per ccf of water. What should Emily have been charged on her last water bill?

• $36.99

• $35.04

• $48

• $36.04

Home heating oil is sold by the gallon. Last winter, the Romano family used 370 gallons of oil at a price of $3.91 per gallon. If the price increases 9% next year, what will their approximate heating expense be? Round to the nearest ten dollars.

• $1,580

• $1,446.70

• $1,450

• $1,446

Craig’s June water bill listed two meter readings. The previous reading was 6,372 ccf and

the present reading is 6,501 ccf. How much water did Craig’s household use during the

billing period?

• 129 ccf

• 127 ccf

• 130 ccf

• 140 ccf