
Final Review - Units 1-3
Quiz
•
Business
•
9th - 12th Grade
•
Hard
Claire Duewer
Used 25+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
A lawnmower that normally sells for $500 is on sale for 25% off. How much is the lawnmower after the discount?
$375
$125
$12,500
$100
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If sales tax is 6%, how much sales tax must you pay on something that costs $100?
$600
$94
$6
$60
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following best describes monetary value?
An item’s worth in comparison to something else
The price at which an item is bought or sold for
The value an individual gives an item for personal reasons
The extent to which a person wants or needs an item
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following is not a major factor when determining a person’s standard of living?
Wealth
Comfort
Necessities
Age
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
The budgeting process includes three important aspects. Which of the following describes the most important aspect?
Categorizing spending needs because they must be a top priority
Categorizing spending wants because they result in dangerous spending
Assigning limits to categories because budgets are built on limitations
Committing to the limits and categories decided on
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following is a common non-monthly expense that could be included in a monthly budget?
Gasoline
Electric bill
Rent
Oil Changes
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following is not true for the envelope budget?
It utilizes the psychological advantages of paying with cash.
Most, if not all, discretionary spending is done with cash.
If a person uses a credit or debit card, he will most likely spend less money than if he used cash.
Using cash instead of a card naturally limits spending.
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