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TLE 6 Allocation of Family Income and Budget

Total questions: 20

Worksheet time: 15mins

Name
Class
Date
1.

Management of income and expenses that affects the family

a)

Family Feud

b)

Family Finance

c)

Family Planning

d)

Family Assets

2.

Monetary payment received by family members for goods and services offered.

a)

income

b)

expenses

c)

assets

d)

liabilities

3.

Refers to the money paid by the family for goods and services that it gets.

a)

income

b)

expenses

c)

assets

d)

liabilities

4.

This gets the biggest share in the allocation

of your family income.

a)

utilities

b)

shelter

c)

food

d)

savings

5.

These are paid on a monthly basis such

as electricity, water, telephone, and internet bills.

a)

utilities

b)

shelter

c)

household operations

d)

savings

6.

Families renting a house or apartment should have a fixed monthly budget for mortgage.

a)

utilities

b)

shelter

c)

food

d)

savings

7.

This includes expenses for allowance,

tuition fees, uniforms, books, and school

supplies

a)

utilities

b)

household operation

c)

education

d)

savings

8.

A separate amount of money for

emergency purposes or for something that will

be bought in the future

a)

utilities

b)

household operation

c)

education

d)

savings

9.

Budget allocated for

house helper, household supplies, home repairs,

and improvement.

a)

utilities

b)

household operation

c)

education

d)

savings

10.

Allocated for medical

and dental appointment, medicines, and

vaccinations.

a)

rest and recreation

b)

social and moral obligations

c)

medical and dental health

d)

clothing

11.

A budget that depends on the physical

growth, status, and development of family

members.

a)

rest and recreation

b)

social and moral obligations

c)

medical and dental health

d)

clothing

12.

A budget allocated for

relaxation, entertainment, hobbies, interests,

trips, and vacations.

a)

rest and recreation

b)

social and moral obligations

c)

medical and dental health

d)

clothing

13.

Allocated for events such as

birthdays, anniversaries, wedding, among others.

a)

rest and recreation

b)

social and moral obligations

c)

medical and dental health

d)

clothing

14.

Allocation for FOOD

a)

845

b)

1625

c)

2145

d)

1560

15.

Allocation for UTILITIES

a)

845

b)

1625

c)

2145

d)

1560

16.

Allocation for SHELTER

a)

845

b)

1625

c)

2145

d)

1560

17.

Allocation for EDUCATION

a)

845

b)

1625

c)

2145

d)

1560

18.

Allocation for SAVINGS

a)

845

b)

325

c)

3250

d)

32.50

19.

Convert percent to decimal

a)

0.030

b)

3.0

c)

30

d)

0.30

20.

Convert percent to decimal

a)

0.0075

b)

7.50

c)

0.075

d)

0.75