NEW
Font size
S
M
L
XL
WorksheetsHIF 10
Total questions: 14
Worksheet time: 8mins
Name
Class
Date
1.
HOW DO YOU BUDGET?
a)
DETERMINE YOUR INCOME
b)
TRACK YOUR EXPENSES
c)
ALL THE ABOVE
d)
SET UP A SPENDING PLAN
2.
HOW DO YOU BUDGET?
a)
DETERMINE YOUR INCOME
b)
TRACK YOUR EXPENSES
c)
ALL THE ABOVE
d)
SET UP A SPENDING PLAN
3.
WHAT SHOULD YOU CONSIDER WHEN YOU GET A CREDIT CARD?
a)
AUNNAL FEES
b)
MINIMUM PAYMENT
c)
CREDIT LIMIT
d)
ALL OF THE ABOVE
4.
WHAT IS CREDIT?
a)
BUY NOW PAY LATER
b)
A LOAN
c)
COST OF A LOAN
d)
APR
5.
WHAT DO YOU DO WHEN YOU ARE IN DEBIT?
a)
GET HELP
b)
CRY
c)
CALL YOUR MOM
6.
What is the definiton of balanced budget?
a)
Goals that take more than a year to accomplsh.
b)
Planning or budgeting process where total revenues are equal to or greater than total expenses.
c)
Income remaining after deduction of taxes, other mandatory changes, and expenditure on necessary items.
d)
The object of a person's ambtion or effort.
7.
What is the definition of fixed expense?
a)
The loss of potential gain from other alternatives when one alternative is chosen.
b)
Sum of all incomes receive by all individuals or household during a given period.
c)
Planning or budgeting process where total revenues are equal to or greater than total expenses.
d)
Costs that do not flucutate with changes in production level or sales volume.
8.
Your monthly budget should include:
a)
Variable expenses
b)
Discretionary Expenses
c)
Fixed Expenses
d)
All of the above
9.
Groceries are a:
a)
Fixed expense
b)
Variable expense
c)
Intermittent expense
d)
Discretionary expense
10.
Rent is a:
a)
Fixed expense
b)
Discretionary Expense
c)
Variable expense
d)
Intermittent expense
11.
Doing a budget does not:
a)
Show if you are overspending in an area
b)
Make overspending more likely
c)
Remove guilt and shame sometimes associated with purchase
d)
Make your money go further
12.
A _____ is something that is necessary for humans to live a healthy life an example could be food, water, medical, housing, clothing
a)
Need
b)
Want
13.
The term ______________ is used to explain a person's income that does not vary with each period could include wages, salary, student allowance, benefit
a)
Fixed Income
b)
Variable Income
14.
Budgeting is crucial to your financial success.
a)
True
b)
False
Reset
