Personal and Business Budgets

Personal and Business Budgets

3rd - 8th Grade

20 Qs

quiz-placeholder

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Personal and Business Budgets

Personal and Business Budgets

Assessment

Quiz

Business

3rd - 8th Grade

Hard

Created by

Marian Moore

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

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.

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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