Budgeting NGPF

Budgeting NGPF

11th Grade

•

30 Qs

quiz-placeholder

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Budgeting NGPF

Budgeting NGPF

Assessment

Quiz

•

History

•

11th Grade

•

Practice Problem

•

Easy

Created by

Angela Chambers

Used 27+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: The basic services your home, apartment, or business needs to keep it comfortable and functioning properly (e.g. water, electricity, etc.)

Expenses

Income

Utilities

Wants

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: When your income exceeds your expenses and you have money leftover

Shortage

Deficit

Surplus

Budget

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: Any items subtracted from your paycheck, including state and federal income taxes, Social Security, health insurance or 401(k) contributions

Net Pay

Gross Pay

Salary

Deduction

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cost that can be expected at regular intervals and that remains the same amount (e.g., monthly rent payment)

Fixed Expense

Wage

Fixed Income

Variable Expense

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A cost that appears irregularly or that changes in amount (e.g., utility bills)

Variable Expense

Income

Variable Income

Fixed Expense

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A strategy where you save a specified amount of your paycheck before doing anything with the rest of your money

Budget

Variable Expense

Pay Yourself First

Fixed Expense

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Definition: Money that is received from work, investments, business, etc.

Wealth

Income

Expenses

Budget

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