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Expenses

Total questions: 43

Worksheet time: 47mins

Name
Class
Date
1.

Check all the INCOMES

a)

Buying groceries

b)

Getting a paycheck

c)

Getting Allowance

d)

Paying rent

e)

Buying new clothes

2.

Which of the following are considered fixed expenses? (You can choose more than one.)

a)

Cable subscription

b)

Lunch with a friend

c)

Insurance coverage

d)

Rent

e)

Medical fees

3.

You have a budget of $30. What is the BEST way to stay in your budget.

a)

Spend $20-$40

b)

Spend less that $30

c)

Spend exactly $30

d)

Spend nothing

4.

Writing a check to pay a bill is a ____________.

a)

Deposit

b)

Withdrawal

5.

Putting your birthday money in your savings account is a ____________.

a)

Deposit

b)

Withdrawal

6.

Julie's computer repair bill was another example of an ___________ expense.

a)

expected

b)

unexpected

c)

variable

d)

fixed

7.

changing from time to time

a)

Variable

b)

Fixed

8.

When we take money out of a savings of checking account.

a)

Deposit

b)

WIthdrawal

c)

Budget

d)

Income

9.

unchanging; remaining the same

a)

variable

b)

fixed

c)

outgo

d)

income

10.

The money paid our for expenses.

a)

fixed

b)

expense

c)

outgo

d)

income

11.

Services such as electricity, gas, water, and garbage pickup

a)

utilities

b)

insurance

c)

income

d)

variable

12.

money spent on various things that are needed or wanted

a)

income

b)

expenses

c)

insurance

d)

fixed

13.

protection against losses or damages

a)

income

b)

expenses

c)

insurance

d)

outgo

14.

money received for working, or from investments or other sources

a)

income

b)

expenses

c)

utilities

d)

insurance

15.

A fixed expense is

a)

expenses used to fix stuff

b)

i don't know

c)

an expense that stays the same month to month

d)

one of four expenses

16.

a variable expense is

a)

expenses that vary from month to month

b)

expense that stays the same

c)

expenses that come around at certain times in the year

d)

expenses you don't need

17.
Movie Tickets
a)
Fixed Expense
b)
Variable Expense
18.
Gas to get to work
a)
Fixed Expense
b)
Variable Expense
19.
Rent Payment
a)
Fixed Expense
b)
Variable Expense
20.
Restaurant Bill
a)
Fixed Expense
b)
Variable Expense 
21.
Car Payment
a)
Fixed Expense
b)
Variable Expense
22.

Car Insurance

a)

Fixed Expense

b)

Variable Expense

23.
a)
A
b)
B
c)
C
d)
D
24.
a)
A
b)
B
c)
C
d)
D
25.
a)
A
b)
B
c)
C
d)
D
26.

You download 3 songs from iTunes.

a)

income

b)

expense

27.

You babysit for a neighbor

a)

Income

b)

Expense

28.

You get ticket to Six Flags

a)

Income

b)

Expense

29.

You deliver newspapers

a)

Income

b)

Expense

30.

You make and sell bracelets

a)

Income

b)

Expense

31.
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
32.

Ava paid $10 for 14 pencil sharpeners and paid $2.00 for shipping. She sold them for $2 each. How much profit did Ava make when she sold all of the pencil sharpeners?

a)

$16.00

b)

$28.00

c)

$10.00

d)

$14.00

33.

Latrell bought an old rocking chair at a yard sale for $12. He spent a total of $4.75 on supplies to repair and paint it. He sold it for $38. How much profit did he earn?

a)

$16.75

b)

$21.25

c)

$33.25

d)

$30.75

34.

The best definition of a need is...

a)

something essential for life that you must have to survive

b)

something not essential for life that you do not have to have to survive

35.

Something that makes you happy and more comfortable is...

a)

a want

b)

a need

36.

Which is a need?

a)

Pop

b)

Coffee

c)

Water

d)

Gatorade

37.

Which is a want?

a)

A place to live (shelter)

b)

Oxygen

c)

Car

d)

Food

38.

Which is a need?

a)

iPhone

b)

Medication

c)

Backpack

d)

Sunglasses

39.

Which of the following is NOT a need?

a)

Snacks

b)

Cleaning Supplies

c)

Toiletries

d)

Towels

40.

What is the total repayment Phil will pay on a loan he took out for three years with a monthly payment of $354.00?

a)

$1,062

b)

$12,744

c)

$4,248

d)

$88.50

41.
Brenda's bank offers car financing for 3, 4, or 5 years.  If Brenda chooses 5-year financing, how many monthly payments will she have?
a)
60
b)
48
c)
36
d)
12
42.

Cooper earned some money mowing yards. He earned $6 for every yard he mowed. How much money would he earn if he mowed 5 yards?

(Hint: Use skip counting!)

a)

$20

b)

$25

c)

$30

d)

$35

43.

Cooper wants to buy a new Xbox controller that costs $21. How many yards would he have to mow in order to have enough money to purchase the controller?

a)

3

b)

4

c)

5

d)

6

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