
Lesson 8: Budgeting
Authored by George Timas
Business
9th - 12th Grade
Used 5+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the money you have left to spend after taxes have been paid
Budget
Disposable Income
Gross Pay
Financial Expenses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A set of goals for spending, saving, and investing your money
Financial Plan
Disposable Income
Savings Plan
Fixed Expense
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
a spending and savings plan based upon income and expenses
Disposable Income
Financial Plan
Budget
Variable Expenses
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If income is greater than expenses, you will have a(n)
deficit
variable expense
fixed expense
surplus
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the 50/30/20 budget plan, the 20 represents...
20% of your net income should be spent on needs
20% of your net income should be spent on wants
20% of your net income should be spent on savings/investments
$20 should be put into a savings account every week
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Personal and Financial Records are important because
They show that you are responsible
They may be required as proof in a tax audit or legal proceedings
It leads to a hoarder mentality
None of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An example of a record that you should keep for at least 5 years...
Tax Returns (1040, W2, deductible expenses, etc.)
Paycheck stubs
Grocery receipts
Electronic equipment receipts
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