BrainPop: Budgets Quiz

Which two things does a budget compare?

• savings and interest

• income and expenses

• income and investments

• expenses and expenditures

Which of the following is a true statement about budgets?

• They encourage people to spend as much money as possible.

• Setting up a budget will allow you to earn more money.

• The idea behind keeping a budget is to spend exactly as much as you earn.

• They allow people to track how and where their money is spent.

In what way is a kid's budget similar to an adult's budget?

• The goal for both is to have less money going out than coming in.

• Both have about the same ratio of income to expenses.

• Both kids and adults tend to spend their money on the same things.

If your income is $20 per month, how much should you spend each month to stay on budget? Choose the best answer.

• exactly $20

• between $10 and $30

• Nothing

• $20 or less

The key to keeping a budget is to spend your money prudently. What is the best synonym for "prudently?"

• stingily

• wisely

• extravagantly

• thoughtlessly

If you were in charge of buying milk for a family of five, but not everyone has breakfast at home every day, what kind of expense would the milk be?

• fixed essential

• variable essential

• non-essential

• non-variable

What is one consequence of going into bankruptcy?

• Going to prison

• Losing the ability to make a budget

• Having some of your possessions taken away

• Losing your job

People in debt are often said to have a budget deficit. What does that mean?

• their expenses exceed their income

• they had no income

• they never set up a budget, which led to their debt

• they only set up one budget for the year, when they should have set up more than one