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Budgeting Quiz

Authored by Westney Allen

Social Studies

12th Grade

Used 3+ times

Budgeting Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

What is a budget?

A record of all grades in school

A plan for tracking weight loss

A tool for tracking income and spending

A way to plan for academic success in college

2.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Budgets can be considered "road maps" for reaching

Academic goals

Financial goals

Athletic goals

Out to friends and family

3.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Which of the following is needed for a budget to work?

Time and commitment

A phone app

Help of a financial planner

A college degree

4.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Which of the following is NOT a benefit of a budget?

Control of spending

Lack of savings plan for the future

Reduced stress

Increased confidence

5.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

When creating a budget, it is important to

Ignore savings goals

Overlook fixed expenses

Monitor current spending patterns

Focus on wants rather than needs

6.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Which type of income involves compensation received by employees for services performed and is usually computed by multiplying an hourly pay rate by number of hours?

Salary

Dividends

Capital gains

Wages

7.

MULTIPLE CHOICE QUESTION

30 sec • 10 pts

Which of the following is a consequence of NOT using a budget?

Control of how you spend your money

Increased confidence

Reduced stress

Being unprepared for emergencies

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