Budget Assessment Week 1

Front

During the school fundraiser, what was Avery's main task?

Back

Distribute funds. Spread funds over a period of time.

Front

What is James creating when planning his finances for the upcoming year?

Back

An estimate of income and expenses over a period such as monthly or annually

Front

Zoe is planning her monthly budget and needs to break it down into different income and spending.

Back

Category

Front

Aaron is reviewing his monthly budget. He wants to know the amount he actually spent, not an estimate.

Back

Actual costs

Front

What does financial literacy mean for Mason?

Back

Financial literacy is the possession of a body of financial knowledge, a set of basic skills, and the ability to apply your knowledge to make responsible financial choices.

Front

Value system

Back

A value system is the overall structure of values and goals that guides your behavior and provides a sense of direction in your life.

Front

What are tangible items?

Back

Tangible items are physical objects that can be touched and purchased, such as food and clothing.

Front

What is the best definition of management in the context of overseeing a new project?

Back

Management is the process of planning, organizing, leading, and using your resources to achieve specific goals.

Front

What should Grace prioritize as needs in her monthly budget?

Back

Basic requirements essential for survival and well-being such as food and shelter.

Front

What are considered wants?

Back

Wants are non-essential desires for goods or services.