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Budget Review

Authored by Tait Midthun

Social Studies

5th Grade

Used 14+ times

Budget Review
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14 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a budget?

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

an amount that has to be paid or spent to buy or obtain something

the amount of money left over after all the costs of production have been paid

contribution added to some goods, services, and transactions

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is income?

Money received from investments, employment, and contributions.

to use (money) to pay for something

contribution added to some goods, services, and transactions

money that is made by or paid to a business or an organization

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is an expense?

money that is made by or paid to a business or an organization

to put aside or reserve

to use (money) to pay for something

money you spend

4.

OPEN ENDED QUESTION

3 mins • Ungraded

What are four ways your income is used?

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Answer explanation

Four ways you use your income is taxes, spend, save, donate.

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a benefit to paying taxes?

The money goes to a public service

You have more money now

Have money for later emergencies

Helps others

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a benefit to donating some of your income?

The money goes to a public service

You have more money now

Have money for later emergencies

Helps others

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a benefit to spending some of your income?

The money goes to a public service

You have something now

Have money for later emergencies

Helps others

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