Ch 2 Vocab - Budgeting Basics
Quiz
•
Financial Education
•
12th Grade
•
Practice Problem
•
Easy
Chris Moore
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12 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Definition: a record that summarizes all of the income and outgo (spending) over a certain time period
Irregular Income
Intermittent expense
budget
cash-flow statement
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Definition: earnings based on a percentage of the sales made
irregular income
income
commission
budget
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Definition: income that comes in at different amounts or at different times, or both
Irregular Income
net Income
variable expense
gross Income
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Definition: expense that varies in dollar amount from month to month, but that you can expect to have every month
Intermittent expense
Variable expense
Fixed expense
Discretionary expense
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Definition: expense for things you don't need
Variable expense
Discretionary expense
Intermittent expense
Fixed expense
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Definition: a written plan for giving, saving, and spending
Income
Commission
Gross income
Budget
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero.
zero-based budget
net income
irregular income
variable expense
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