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University

60 Qs

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Assessment

Quiz

Business

University

Practice Problem

Easy

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Brenin Angle

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60 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a key component of a personal budget?

Income

Expenses

Savings

Credit Score

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in creating a personal budget?

Tracking expenses

Setting savings goals

Identifying income sources

Creating an emergency fund

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Groceries

Rent

Entertainment

Utilities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How often should you review and adjust your budget?

Monthly

Quarterly

Annually

Only when there is a major financial change

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a short-term savings goal?

Saving for retirement

Saving for a vacation

Saving for a child's education

Saving for a down payment on a house

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of tracking your income and expenses?

To identify areas where you can cut costs

To increase your income

To prepare for tax season

To impress your bank

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a long-term budgeting strategy?

Planning for monthly grocery expenses

Saving for a new phone

Investing in a retirement fund

Budgeting for a weekend trip

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