Week of May 5th Practice

Which of the following is considered income in a personal budget?

• Money spent on groceries

• Money earned from a part-time job

• Money paid for rent

• Money used for entertainment

Tags

TEKS.MATH.7.13B

Expenses that change from month to month, such as electricity or groceries, are called:

• Fixed expenses

• Variable expenses

• Income

• Taxes

Tags

TEKS.MATH.7.13B

Which of the following is an example of a planned savings category in a budget?

• Buying a new video game

• Saving for college

• Paying monthly rent

• Paying for groceries

Tags

TEKS.MATH.7.13B

What is the main purpose of including taxes in a personal budget?

• To increase your income

• To plan for money that will be taken out of your earnings

• To reduce your expenses

• To avoid paying bills

Tags

TEKS.MATH.7.13B

If you buy a shirt for $20 and the sales tax rate is 8%, how much sales tax do you pay?

• $1.60

• $2.00

• $2.50

• $1.80

Tags

TEKS.MATH.7.13A

A person earns $500 in a week. If the income tax rate is 10%, how much will be taken out for income tax?

• $50

• $10

• $100

• $5

Tags

TEKS.MATH.7.13A

A store offers a coupon for 20% off any purchase. If you buy an item that costs $30, how much will you save with the coupon?

• $4

• $6

• $8

• $10

Tags

TEKS.MATH.7.13F

Which of the following best describes a sales rebate?

• A discount given at the time of purchase

• Money returned to you after you buy a product

• An extra fee added to your purchase

• A coupon you use before buying

Tags

TEKS.MATH.7.13F

A plan for spending

• income

• expenses

• sales tax

• budget

Tags

TEKS.MATH.7.13B

The circle graph below shows the percentages of a family budget used for different monthly expenses. Which statement is supported by the data in the graph?

• The amount of money budgeted for utilities and gasoline combined is less than the amount budgeted for the mortgage.

• The amount of money budgeted for the mortgage is half the amount budgeted for clothes.

• The amount of money budgeted for groceries and clothes combined is twice the amount budgeted for utilities.

• The amount of money budgeted for gasoline and clothes combined is greater than the amount budgeted for groceries.

Tags

TEKS.MATH.7.13B