Budgeting

Budgeting

12th Grade

20 Qs

quiz-placeholder

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Budgeting

Budgeting

Assessment

Quiz

Social Studies

12th Grade

Medium

CCSS
6.RP.A.3C, 7.RP.A.3, 4.OA.A.3

+6

Standards-aligned

Created by

Alan Long

Used 3+ times

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20 questions

Show all answers

1.

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

2.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

Media Image

How does the 50/30/20 rule of thumb for budgeting allocate your income?

50% Needs, 30% Wants, 20% Savings & Debt Repayment

50% Wants, 30% Needs, 20% Savings & Debt Repayment

50% Savings & Debt Repayment, 30% Wants, 20% Needs

50% Needs, 30% Savings & Debt Repayment, 20% Wants

Tags

CCSS.6.RP.A.3C

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is generally the most expensive category in a person’s budget?

Healthcare

Clothing

Transportation

Housing

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Carla’s monthly income is $2,500. She can spend 35% of her monthly income on her housing category, how much money does she have to spend in this category?

$875

$110

$765

$90

Tags

CCSS.6.RP.A.3C

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage is recommended for savings?

5%
10%
20%
15%

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The graph above represents a family’s monthly budget. The family’s income is $3,125. How much money does the family spend on utilities, transportation costs, and savings?

$1000.93

$1093.75

$1937.50

$2037.50

Tags

CCSS.6.RP.A.3C

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following statements is supported by the data in the graph? (Total = $2500)

Housing, transportation, and entertainment make up 50% of the monthly family budget.

Savings is less than 10% of the monthly family budget.

Food and utilities make up more than 50% of the monthly family budget.

Food makes up 1/4 of the monthly family budget

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