Unit 5 (Chapter 4) Budget Review (SPF & PF)
Authored by Michelle SJ
Business
9th - 12th Grade
Used 6+ times
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41 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A personal net worth is calculated by...
total assets + total liabilities
total assets - total liabilities
total liabilities - total assets
total assets x total liabilities
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Examples of fixed expenses include ...
Rent
gas
groceries
entertainment
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following would typically be considered a need (rather than a want)?
A new car
housing
vacation trip
several pairs of shoes
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The amount of money a person has to spend after needs are met is called
net income
profit
discretionary income
none of the above
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following would be considered a cash inflow?
net pay
rent
savings
expenses
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is an asset?
credit card balance
net worth
savings account
car loan
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The "VALUE" of what you give up (when you make a choice) is the
tradeoff
asset
net worth
opportunity cost
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