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WorksheetsBanzai Jr. Review
Total questions: 25
Worksheet time: 13mins
An IOU is an example of:
a savings account
your new favorite band
a personal loan
a spending plan
You earned $8 in cash from babysitting. What's the first thing you should always do?
Spend it!
Enter $8 in your budget as income
put it all in a savings account
withdraw the money so you can spend it
What will help you sell the most at your lemonade stand?
buying cheaper lemons so you can make more lemonade
pricing your lemonade $0.05 lower than other stands so more people come
asking your friend to help so that she can serve more customers
all of the above
You've reached your goal of saving enough money for a hoverboard. Now what?
set a new financial goal and start saving toward it
you no longer have to keep a budget
you get a bonus of $20
you can't buy it until you earn even more money
Why is competition between sellers good for shoppers?
it's funny to watch
it gives them more choices and better prices
it gives them more deposits and lower sales tax
it means that there will be more sales tax
Good news! The bike that you want is $35 off! What should you do with the leftover money if your goal is to keep saving?
buy some sweet wheels and a personalized helmet
put it back in your wallet
deposit it into your savings account
keep it handy - you might want to buy something else soon
What two things should you track in a budget?
income and expenses
expenses and savings
income and sales tax
candy and video games
What does it mean if you have debt?
you have money in a savings account
you owe someone money
you have a budget
someone owes you money
You are dying for a pair of Snetchers sneakers to wear to school, but they're expensive. What is this an example of?
a long term goal
a need
an emergency purchase
an investment
What happens if you spend money on something you didn't plan for in your budget?
you'll have to pay an extra fee because you didn't plan to spend that much
you'll never reach your savings goal
you'll need to look at your budget and change it for the new expense
you can't spend money if you didn't budget for it
Which of the following is true about sales tax?
it is included in the prices of things that you buy
it is added on top of your final total at the store
kids don't have to pay sales tax
sales tax can only be paid for with change
You've decided to start making and selling brownies. You want to team up with a friend. What would that mean for your business?
you'll be able to make more brownies
you'll probably be able to sell more brownies
you'll have to split your profits
all of the above
What's the difference between a deposit and a withdrawal?
they are different words for the same thing
a deposit is a type of budget and a withdrawal is a type of bank account
a deposit is when you take money out of a bank and a withdrawal is when you put money in
a deposit is when you put money into a bank account and a withdrawal is when you take money out
What is interest?
money that you put into a savings account
money that a bank pays you regularly to keep your money in a savings account
money left over after you pay expenses
money that you spend on your hobbies
What is a vendor?
someone who sells a product
a machine where you can buy soda and snacks
a type of savings account
someone who has a budget
Which of these is a reason to keep your money in a savings account?
your money will be safe
you'll earn interest
it will help remind you to save for your goals
all of the above
Your little sister tells you she wants to buy some taffy from the store, but doesn't have enough money. If you give her the money and make her promise to pay it back, what are you doing?
lending her money
borrowing her money
taxing her money
budgeting her money
What is the best way to create a budget?
put everything into one jar and withdraw from it as needed
divide your money into categories according to what the money is for
Divide your money in half. Save half and spend half.
Put $20 into savings, $20 into IOU, and the rest into spending.
You make $12.75 running a lemonade stand with your BFF. If your supplies cost $3.75 to purchase and you split the profit equally with your friend, how much money will you make?
$9.00
$4.50
$12.75
$3.75
Which of the following could be considered a business expense?
Back-to-School clothes
the money you put into your savings account every month
fees for your soccer team
the dog treats you bought for your dog-walking job
Why would someone create a budget?
to keep track of money earned and money spent
to find out how much money they will earn
to keep track of how much money is in their savings account
none of the above
What's the best way to make change at the grocery store?
using the most coins and dollars as possible
using the fewest coins and dollars as possible
using only coins
all of the above
What is a good example of a financial goal?
to save for a college fund
to buy a new guitar and pay for lessons
to earn enough to buy a pet hamster
all of the above
Which of these is NOT an example of income?
Money you earn from your lemonade stand.
Money your Grandma gave you for your birthday.
Money you borrowed from your friend.
Money you get for an allowance.
How does your money grow once you put it in a savings account?
the bank gives you more money over time
the money fairy appears and adds more every year
your mom puts money in your account every birthday
It doesn't grow. The amount stays the same until you add to it yourself.
