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Budget Quiz

Authored by Nivea Mundine

Life Skills

9th Grade

Used 18+ times

Budget Quiz
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is an irregular expense?

Expenses that change from month to month.

Costs that come up throughout the year, but do not occur regularly.

An expense that does not change from period to period.

All of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not an example of a deduction?

Income Tax

Dependent

Group Insurance

Social Security

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an example of a variable expense?

Taxes

Medical bills

Utility bills

Gas

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Gross income is your total pay after taxes.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in creating a budget?

List all your fixed expenses.

Set your goals, and include them in your budget.

Add up all your income.

List all your variable expenses, starting with your needs first.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True or False: Fixed expenses are expenses that do not change.

True

False

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Income is money received or earned for work and ___________.

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