
Budget Expense Sheet Quiz
Quiz
•
Business
•
12th Grade
•
Practice Problem
•
Hard
Sandy Miller
FREE Resource
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Creating a monthly budget plan: What are the key components of a monthly budget plan?
Salary, bills, shopping, and loans
Income, expenses, savings, and financial goals
Rent, groceries, entertainment, and travel
Income, expenses, debt, and investments
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Creating a monthly budget plan: How can you prioritize expenses in a monthly budget plan?
By prioritizing discretionary expenses first
By not considering essential expenses at all
By first covering essential expenses such as housing, utilities, groceries, and transportation, then allocating funds for debt payments, savings, and finally discretionary expenses.
By randomly allocating funds to different expenses
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Creating a monthly budget plan: What are some common budgeting mistakes to avoid when creating a monthly budget plan?
Spending without limits
Setting unrealistic goals
Not tracking expenses, underestimating costs, not setting realistic goals, and not adjusting the budget as needed.
Overestimating costs
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tracking daily expenses: Why is it important to track daily expenses?
To understand where the money is being spent and for better budgeting and financial planning.
To forget about spending and overspend
To make budgeting more difficult
To have no idea about financial situation
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tracking daily expenses: What are some effective methods for tracking daily expenses?
Using a magic wand
Asking a fortune teller
Guessing randomly
Using a budgeting app, keeping a spending journal, using a spreadsheet, or using envelopes for cash budgeting
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Tracking daily expenses: How can tracking daily expenses help in managing overall budget?
By never reviewing spending habits
By identifying where the money is being spent and allowing for better control over spending habits.
By keeping all expenses in one category
By ignoring expenses and spending freely
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Differentiating between fixed and variable expenses: Provide examples of fixed expenses and variable expenses.
Rent/mortgage payments (fixed), groceries/entertainment (variable)
Eating out (variable)
Car payment (fixed)
Phone bill (variable)
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