Budgeting Flocab Quiz

Budgeting Flocab Quiz

6th Grade

11 Qs

quiz-placeholder

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Budgeting Flocab Quiz

Budgeting Flocab Quiz

Assessment

Quiz

Mathematics

6th Grade

Medium

Created by

Rebecca Bickett

Used 1+ times

FREE Resource

11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following may be considered needs except -

bus fare

groceries

movie ticket

rent

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is opportunity cost?

the tax that is paid on income

the fees that are paid for education


the value of an alternative you give up


the interest paid on a long-term investment

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Rent and car insurance payments are both which type of expenses?

fixed costs that are needs

fixed costs that are wants

variable costs that are needs

variable costs that are wants

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A consumer is someone who

buys something

makes something


offers a service

sells a product

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which word or phrase should be at the top of the left column of this budget?

Cash flow

Fixed costs

Income

Savings

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which statement about variable expenses is true?


Variable expenses include only large costly items.


Variable expenses should not be included in the budget.

Variable expenses include wants but not needs.


Variable expenses are easier to cut than fixed expenses.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of a budget?


to keep track of cash flow

to find new sources of income

to differentiate between needs and wants

to determine the amount of taxes to be paid

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