5 Week Test Review MP4

What is a fixed expense?

• An expense that typically does not change from month to month.

• An expense that typically varies greatly from month to month.

• A expense that is the same for 3 months before changing.

• An expense that is a tax deduction.

A budget should include both income and expenses.

• TRUE

• FALSE

Explain in detail, how understanding policies & procedures, training lessons, and the four hazards will benefit your personal life, school experience, and future career workplace.

___Willingly risking resources to start and run a business in pursuit of profit.

• Start-up capital

• Planning

• Entrepreneurship

Skills gained through life experience or working on a job that help an individual perform in the workplace or gain success in a career.

• debt financing

• transferable skills

• assets

A person who starts a new business or purchases an existing business is a(n) ____.

• capitalist

• manager

• entrepreneur

• boss

What is a minimum payment?

• the minimum amount of money you can pay back - you will have to pay interest on the unpaid balance

• the minimum amount of money you can pay back - you will NOT have to pay interest

• the maximum amount of money that you can borrow with a card

• the amount that will be shown on your bill

Paying only the minimum payment will cost you interest. You will end up paying a lot more for an item in the end!

• True

• False

Card A has an APR of 16.99% and Card B has an APR of 26.98%. Which card do you choose?

• Card A

• Card B

What factors can affect your credit score?

• Favorite color, favorite food, favorite movie

• Height, weight, age

• Payment history, credit utilization, length of credit history, new credit, and types of credit used

• Number of pets, number of siblings, number of friends