Budgeting Vocabulary
Authored by Ana Martinez
Business
11th Grade
Used 9+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a budget?
A plan for how to spend and save your money over a period of time
Money received from work or investments
Costs that change month to month
The value of your assets minus your liabilities
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes income?
Money spent on goods and services
Money received, especially on a regular basis, from work or investments
Costs that stay the same each month
A loan used to buy property
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are assets?
Costs that change month to month
Anything of value you own—cash, property, investments
Financial obligations or debts you owe
Essential expenses for survival
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a fixed expense?
Costs that change month to month
Total earnings before taxes and deductions
Costs that stay the same each month
Money borrowed and owed to another party
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "expenses" refer to?
Money received from work or investments
Money spent on goods, services, or obligations
The value of your assets minus your liabilities
A legal process for individuals unable to repay debts
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a variable expense?
Costs that stay the same each month
Costs that change month to month
Total earnings before taxes and deductions
Money borrowed and owed to another party
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is gross income?
Total earnings before taxes and deductions
Money spent on goods, services, or obligations
The value of your assets minus your liabilities
A loan used to buy property
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