Startup Budget Quiz - Mrs. Blank

Jackson, Liam, and Arjun are planning to start a new business. They are discussing their financial plan. In this context, what is a startup budget?

• A budget that projects the income and expenses from the beginning of their new business until it is expected to become profitable

• A budget that only includes their initial operating expenses

• A budget that only includes their monthly fixed expenses

• A budget that only includes their monthly variable expenses

Abigail is learning about personal finance. She came across a term 'fixed expenses'. What does it mean?

• Expenses that remain constant and are charged the same amount each month, like Noah's rent or Zoe's car payment

• Expenses that change month to month in relation to variations in business activity, like Abigail's grocery bills

• Expenses that are only related to sales and production, like the cost of raw materials for Noah's small business

• Expenses that are only related to advertising, like the cost of Zoe's online ads for her blog

Elijah, Scarlett, and Aria are planning to start a food truck business. What should be their first step in creating a startup budget for their business?

• Plan for 'Day One' of their food truck business startup

• Estimate Monthly Fixed and Variable Expenses for the food truck

• Estimate Monthly Sales of the food truck

• Create a cash flow statement for the food truck business

Maya, Aria, and Mason are planning to start a food truck business. What should they include in their startup budget?

• Operating Expenses and One-time (Startup) Expenses

• Only Operating Expenses

• Only One-time (Startup) Expenses

• Neither Operating Expenses nor One-time (Startup) Expenses

Arjun is starting a new business and is calculating his startup expenses. Which of the following would be considered a one-time (startup) expense?

• Buying computers and POS systems for his office

• Paying salaries to his employees, Zoe and Aiden

• Paying rent for his office space

• Paying for utilities like electricity and water

Maya is planning her monthly budget. Which of the following would be considered a fixed expense for her?

• Rent

• Consultant fees for Noah's startup

• Shipping costs for Oliver's online business

• Cost of raw materials for her art projects