Budget
Quiz
•
Other
•
6th - 8th Grade
•
Practice Problem
•
Medium
Jennifer Worley
Used 9+ times
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
Why is it important to keep a budget?
Budgets make sure you do not spend more money than you can afford.
Budgets can help you save for large purchases.
Budgets show you how much money you get and spend.
All of the above.
2.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
The goal of a budget is to SPEND less than you EARN.
True
False
3.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What are Costs
Money received from the sale of the product or service
money left over after all the expenses are paid
the amount spent to make a product
money received from the sale of the product or service
4.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What is Revenue?
The amount spent to make a product
Money received from the sale of the product or service
Money left over after all the expenses are paid
The cost of raw materials used in production
5.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What is Profit?
Money received from the sale of the product or service
The cost of raw materials used in production
Money left over after all the expenses are paid
The amount spent to make a product
6.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What is the meaning of Expenses?
Money left over after all the expenses are paid
The amount spent to make a product
Money received from the sale of the product or service
The cost of raw materials used in production
7.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
What is the definition of Operating Expenses?
Money received from the sale of the product or service
The cost of raw materials used in production
The costs associated with the day-to-day operations of a business
Money left over after all the expenses are paid
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