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Unit 9 Test Review, Budget, Income, & Taxes

Authored by Sandra James

Social Studies

12th Grade

Used 18+ times

Unit 9 Test Review, Budget, Income, & Taxes
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40 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When you are reconciling your bank statement, you compare your

Debits and Credits

Savings and Interest
Income and Investments
Expenses and Expenditures

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

In January 2023, Byron received a 1099 form for the income he earned during that year. What type of job did Byron probably perform?

Working at Walmart

Teacher at a high school

Worker at Chick-Fil-A

A tax accountant who keeps records for local businesses in town

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Variable expenses may not be the same every month.

True
False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This occurs when money is withdrawn from a bank account and the available balance goes below zero.

overdraft
reconcile
balanced
budgeting

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You match your bank statement with your checkbook balance in order to balance or __________ your account.

reconcile
budget
overdraw
spend

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Expenses that stay the same every month are _________ expenses. Rent would be an example.

fixed
discretionary 
variable
intermittent

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An expense that only occurs because you are choosing to spend money like eating out or buying clothes is a(n) ___________ expense.

fixed
discretionary
variable
intermittent

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