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WorksheetsMoney Management Content Review
Total questions: 31
Worksheet time: 22mins
Name
Class
Date
1.
What is the last step in the balancing your checkbook?
a)
update your balance
b)
reconcile your account
c)
track your withdrawals
d)
add your deposits
2.
Type of saving - purchase a durable good that will be utilized for more than a year.
a)
regular voluntary saving
b)
forced saving
c)
consumption saving
3.
Expenses that do not fluctuate with changes in production level or sales volume.
a)
variable expenses
b)
fixed expenses
4.
A disadvantage of using credit cards.
a)
if you pay in full each month = no interest
b)
you don’t pay immediately
c)
if you don’t pay in full each month = interest
d)
you can purchase even if you’re low on cash
5.
Asset can be spent as is or converted to cash quickly while retaining it’s value.
a)
tangible
b)
liquid
c)
fixed
6.
Decide how much you can save _____ looking at your usual expenses.
a)
after
b)
before
c)
while
7.
Known as any education to learn or to improve job skills.
a)
human capital
b)
capital
8.
Small percentage of purchases are made with _____.
a)
cash
b)
online payments
c)
credit cards
d)
bank accounts
9.
Identifying the cost of meeting future needs and goals.
a)
budget
b)
calculating future expenses
c)
cost-benefit analysis
d)
cost comparison
10.
A(n) _____ is a record of how we’ve spent our money.
a)
expense statement
b)
expense tracking form
c)
budget
11.
Comparing the cost of two or more goods or services in an effort to find the best value.
a)
budget
b)
cost comparison
c)
calculating future expenses
d)
cost-benefit analysis
12.
Griffin Kanelos started the day with a bank balance of $129.17. He used another bank’s ATM to withdraw $20.00 cash. The charge for using the ATM was $3.00. Griffin then used his debit card to make purchases of $18.12, $29.35, and $7.84. Find the balance in his account after the bank processed these transactions.
a)
$50.86
b)
$53.86
c)
$207.48
d)
$58.70
13.
Checking account = _____ account?
a)
IRA
b)
checking
c)
savings
d)
demand deposit
14.
Your job is to limit your spending according to your budget.
a)
true
b)
false
15.
When writing a check, which of the following is considered the "official amount" of the check?
a)
the amount on the receipt
b)
amount written in words
c)
either amount written in words or amount written in numbers
d)
amount written in numbers
16.
U. S. Federal minimum wage = $_____/hour
a)
$5.75
b)
$7.75
c)
$5.25
d)
$7.25
17.
An advantage of using a bank account when making purchases is _____.
a)
you can only spend the money you have
b)
quick and easy
c)
leaves a record of transactions
18.
Hannah Nash opened a new checking account with $60.00. During the month, she wrote checks for $12.52, $5.85, $8.60, and $10.79. When she received her first statement, it showed that the check for $10.79 had not cleared. What balance did the statement show?
a)
$33.03
b)
$24.22
c)
$22.24
d)
$33.30
19.
Earned Income = _____ of the total income people receive.
a)
3/4
b)
1/2
c)
2/3
d)
1/3
20.
Cost is more than, equal to, or less than the benefit that comes from purchasing that item.
a)
budget
b)
cost comparison
c)
cost-benefit analysis
d)
calculating future expenses
21.
Mason Shedd is out shopping and one of his favorite stores has a "60% off everything in the store" sale. How much would he spend on a new board with a regular price of $169.95?
a)
$84.98
b)
$69.78
c)
$78.78
d)
$67.98
22.
_____ vary with production output; rise as production increases, & fall as production decreases
a)
fixed expenses
b)
variable expenses
23.
Savings for _____ should be in a fairly liquid form so that they are available quickly.
a)
vacation
b)
automobiles
c)
needs
d)
emergencies
24.
Which of the following should not be used when writing a check?
a)
red pen
b)
black pen
c)
blue pen
d)
pencil
25.
The phrase "bounced check" is slang for _____?
a)
insufficient funds
b)
returned check
c)
non-sufficient funds
d)
lack of funds
26.
In the second quarter of 2017, U. S. households saved _____% of their disposable income.
a)
6.0%
b)
5.0%
c)
3.8%
27.
A plan for future spending and saving, weighing estimated income against estimated expenses.
a)
calculating future expenses
b)
budget
c)
cost comparison
d)
cost-benefit analysis
28.
Laramie Lanier and her friends decide to tip 22% of their dinner bill. If the bill is $179.83, what will be the total cost of the dinner?
a)
$219.39
b)
$218.39
c)
$220.00
d)
$219.40
29.
Type of saving where an individual puts money aside from every paycheck on a regular basis.
a)
regular voluntary saving
b)
forced saving
c)
consumption saving
30.
An advantage of making online payments is _____.
a)
no postage is needed
b)
the payment is made even when you’re out of town
c)
the payment is automatically withdrawn
d)
all of these
31.
Saving where individual borrows to buy an asset that is likely to increase in value over time.
a)
regular voluntary saving
b)
forced saving
c)
consumption saving
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