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2 Making and Changing a Budget

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

What is a plan for spending and saving money?

a)

Budget

b)

Expense record

c)

Savings account

2.

How do you move money from one budget line or one bank account to another?

a)

Transfer

b)

Deposit

c)

Withdrawal

3.

Interest is what?

a)

Extra money owed to a lender for borrowing money

b)

Extra money earned for keeping money in a bank account

c)

Both are correct

4.

What is the sum of a set of numbers divided by how many numbers are in the set?

a)

Average

b)

Estimate

c)

Median

5.

A rounded number that is not exact is called what?

a)

Estimate

b)

Guess

c)

Predict

6.

What is it called to make a guess about the future?

a)

Predict

b)

Estimate

c)

Suppose

7.

Money that is owed is called what?

a)

Debt

b)

Debit

c)

Income

8.

Which of the following are debts?

(You may check more than one answer.)

a)

Car loan

b)

Credit card bill

c)

Paycheck

d)

Savings account

9.

When a plan has income that is equal to the expenses plus the savings, it is called what?

a)

Balanced budget

b)

Checking account

c)

Expense record

10.

A transfer must have an equal amount of money subtracted from one budget or account as the amount added to a different budget or account.

a)

True

b)

False