Money Matters Semester 2 Finals

What two things does a budget compare?

• Income and Expenses
• Savings and Interest
• Income and Investments
• Expenses and Expenditures

Which is an example of a fixed expense?

• Cell Phone
• Utility bill
• Groceries
• Gasoline

Expenses that stay the same every month are _________ expenses. Rent would be an example.

• fixed
• discretionary 
• variable
• intermittent

You have to eat so you need to buy groceries. This is a(n) ___________ expense.

• fixed
• discretionary
• variable
• intermittent

The mortgage payment and the car payment are examples of which of the following?

• variable expenses
• assets
• zero-based budgeting
• fixed expenses

Which of the following is an example of a variable expense?

• car payment
• gas for your car
• student loan for college
• insurance

An estimate of income and expenditure for a set period of time

• budget
• anticipated income
• unanticipated income
• discretionary income

An example of a SMART Goal requiring a budget.

• Wanting to earn honor roll
• Wanting to buy new furniture next month by saving $50 each check
• Wanting to make a sports team
• Wanting to wear jeans on Friday

Short-term goals would be for a period of 5 years or less.

• True

• False

Sam has the following assets and liabilities. Which of the following are assets? Mark ALL that apply.

• Home

• Car

• Car Loan

• Furniture and household goods

• Property