A budget is a financial plan that takes ________ and __________ into account and provides estimates for how much you make and spend over a given period of time.

Personal and Business Budgets

Quiz
•
Business
•
3rd - 8th Grade
•
Hard
Marian Moore
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
cash in and cash out
assets and liabilities
income and expenses
stocks and bonds
2.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
The following statements are ways a business budget can benefit your business, EXCEPT for
Making it more efficient.
Pointing out funds leftover that you can reinvest.
Not control your business spending.
Estimating what it will take to become profitable.
3.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
The first step to creating a budget is
Subtract fixed costs
Determine variable expenses
Create your profit and loss statement
Examine your revenue
4.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
All the money that comes into the business before expenses are deducted.
profit
revenue
variable costs
fixed costs
5.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
The second step in creating a business budget is to add up all of your _________.
profit
revenue
variable costs
fixed costs
6.
MULTIPLE CHOICE QUESTION
1 min • 5 pts
Examples of fixed costs within your business might include, EXCEPT for _________________.
Rent.
Debt repayment
taxes
utilities
7.
FILL IN THE BLANK QUESTION
1 min • 5 pts
_____________ expenses are those that change depending on how much you use the service.
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