QUIZ (CHAPTER 3)

QUIZ (CHAPTER 3)

University

30 Qs

quiz-placeholder

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QUIZ (CHAPTER 3)

QUIZ (CHAPTER 3)

Assessment

Quiz

Other

University

Practice Problem

Hard

Created by

zhanley ruiz

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30 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the main purpose of a household budget?

To spend more money

To track income and expenses

To reduce income

To avoid saving


2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which of the following is a fixed expense?

Rent

Groceries

Entertainment

Clothing

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the second step in creating a household budget?

Track expenses

Choose tools

Set goals

Determine income

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which tool is commonly used for budgeting?

Calculator only

Microsoft Excel or Google Sheets

Television

Video games

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Tracking expenses helps you:

Spend more money

Ignore financial goals

Identify spending patterns

Increase debt

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a benefit of budgeting?

Increased savings

Reduced financial stress

Overspending

Better debt management

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

An emergency fund should cover how many months of living expenses?

1–2 months

3–6 months

7–12 months

12–24 months

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