Junior Achievement Budget+

Junior Achievement Budget+

7th Grade

10 Qs

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Junior Achievement Budget+

Junior Achievement Budget+

Assessment

Quiz

Social Studies

7th Grade

Practice Problem

Medium

Created by

Kristy Fritsch

Used 74+ times

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Short-term goals are:

personal

hard to reach

accomplished in less than a year

categorized by wants and needs

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

In what category of a typical family budget do people spend most of their money?

Entertainment

Transportation

Food

Housing

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

A record of income and expenditures for a given period of time is called a/an:

Budget

Credit

Interest

Investment

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Sarah went to the grocery store to buy a loaf of bread for her mother. While waiting in the checkout line, she saw a display for a new Easter candy bar, so she bought it, too. The candy bar purchase is an example of a/an:

Payment for running an errand for his mom

Special treat

Impulse buy

Need

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

The amount of earnings made over one month, after deductions, is known as:

Gross annual income

Total annual income

Gross monthly income

Net monthly income

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

When budgeting, the first categories to consider are those that meet your:

Important expenses

Wants

Needs

Discretionary funds

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is the difference between a short-term goal and a long-term goal?

A short-term goal can be accomplished in as little as three months to a year. A long-term goal takes one year or more to realize.

A long-term goal can be accomplished in as little as three months to a year. A short-term goal takes one year or more to realize.

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