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WorksheetsBudgets/Expenses
Total questions: 25
Worksheet time: 2hrs 58mins
Name
Class
Date
1.
The total amount you earn before any deductions are subtracted is called __________ pay.
a)
Gross
b)
Incentive
2.
A car salesperson receives a commission of 8% on all sales. If he sold $40,000 worth of cars in one week, find his commission.
a)
$320,000.00
b)
$5000.00
c)
$3200.00
3.
__________ is time worked beyond the regular hours.
a)
Flextime
b)
Bonus
c)
Wage
d)
Overtime
4.
You are paid $10 per hour. A regular work week is 40 hours. What is you gross pay for a 49 hour week? Include overtime at a rate of $15 each additional hour.
a)
$565.00
b)
$600.00
c)
$535.00
d)
$743.00
5.
For which of the following would an employer with hold money from an employee's pay?
a)
Federal income tax
b)
Social Security tax
c)
Medicare Tax
d)
All of the above
6.
Tyler noticed that money was withheld from his pay for taxes and some benefits. This withholding is called ________?
a)
Expenses
b)
Withholding
c)
Deductions
d)
Reductions
7.
What day is the most important tax day of the year?
a)
August 15
b)
April 15
c)
December 30
d)
June 30
8.
The most important thing to consider when getting a job would be
a)
do I have a name tag
b)
the benefits
9.
What kind of insurance should you have in case you get sick and need help?
a)
health insurance
b)
sick leave
c)
a benefit
d)
wage
10.
What two things does a budget compare?
a)
Income and Expenses
b)
Savings and Interest
c)
Income and Investments
d)
Expenses and Expenditures
11.
The idea of a budget is to spend exactly as much as your income.
a)
True
b)
False
12.
When you set a budget, you should never revisit or adjust it.
a)
True
b)
False
13.
Expenses that stay the same every month are _________ expenses. Rent would be an example.
a)
fixed
b)
intermittent
14.
Which of the following account records would have the most current balance, of your available money?
a)
account balance statement from the ATM
b)
your own checkbook register
c)
your monthly bank statement
d)
all of these records will have accurate account balances
15.
The mortgage payment and the car payment are examples of which of the following?
a)
variable expenses
b)
assets
c)
zero-based budgeting
d)
fixed expenses
16.
Which of the following is an example of a variable expense?
a)
car payment
b)
gas for your car
c)
student loan for college
d)
insurance
17.
An estimate of income and expenses for a set period of time.
a)
budget
b)
anticipated income
c)
unanticipated income
d)
discretionary income
18.
What is potentially one bad thing that could happen if you do not live within your means?
a)
You could have to move back home with your parents
b)
You could increase your credit score
c)
Nothing. Its a trick question.
d)
Collection agencies can come after you and possibly even facing court charges
19.
Which of the following is considered a fixed expense?
a)
housing
b)
food
c)
clothing
d)
entertainment
20.
What two things does a budget compare?
a)
Income and Expenses
b)
Savings and Interest
c)
Income and Investments
d)
Expenses and Expenditures
21.
Which of the following is considered a variable expense?
a)
taxes
b)
utilities
c)
housing
d)
entertainment
22.
A sweater costs $39.99. Which option offers the best price for the sweater
a)
$10 off and then 5% off
b)
40% coupon
c)
$15 off coupon
d)
Sale price of $27.99
23.
A pair of headphones costs $59.99. Which option offers the best price for the headphones?
a)
$25 off coupon
b)
40% coupon
c)
$15 off coupon
d)
Sale price of $27.99
24.
Refer to the monetary incentives. Which store offers the most savings for the crock-pot?
a)
Store A
b)
Store B
c)
Store C
d)
Store D
25.
The circle graph shows Haley’s monthly budget. What percent of her budget is for housing?
a)
18%
b)
28%
c)
13%
d)
8%
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