Budgeting Unit Finance

Budgeting Unit Finance

9th - 12th Grade

17 Qs

quiz-placeholder

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Budgeting Unit Finance

Budgeting Unit Finance

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

Shawna Cole

Used 17+ times

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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When developing a budget, it is a good idea to “pay yourself first,” by saving a percentage of your paycheck before deciding how much money you have left to spend.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following are likely items most people see on their paycheck stub:

Gross pay

Mortgage deduction

Net pay

Medicare

Renter's Insurance

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When putting together your personal budget, you find that your budget has a DEFICIT. Indicate the action that you need to take to balance your budget.

Increase your income and expenses by the same amount

Cut your expenses by an amount greater than your deficit

Increase your expenses by more than your deficit

Increase spending on your needs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Caitlin works at the local store. She works from 3pm - 7pm on Monday and Wednesday and each Saturday morning from 9am - 1pm. She gets paid $10 per hour. What will be Caitlin's weekly net (or take home) pay?

Exactly $120

More than $120

Less than $120

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

____1____ refers to the amount prior to tax withholdings and deductions.

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

________ refers to the “take-home” amount after taxes have been withheld.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jesse just bought a used Honda Civic and anticipates driving 10,000 miles per year. The car gets 25 miles per gallon and assume that the gas costs $3.00 per gallon. How much should Jesse budget for his annual gasoline cost?

$3.00

$400

$1200

$750

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