NEW
Font size
WorksheetsNSTP-CWTS Final Quiz 2
Total questions: 15
Worksheet time: 8mins
We should keep our savings with banks because:
It is safe
Earns interest
Can be withdrawn anytime
All choices are correct
ATM password to be shared only with
Spouse
Obedient son
Obedient daughter
No one
Loans from money lenders are
With High rate of interest
No proper accounting
No transparency
All of above
The safest place for keeping money
A pit dug in the ground
An iron box
Bank
Money lender
Rent is a
Fixed expense
Variable expense
Discretionary expense
Intermittent expense
Groceries are a
Fixed expense
Variable expense
Discretionary expense
Intermittent expense
Money that comes in or is earned is called _______
Deductions
Expenses
Income
Budget
When you owe money, it is called
Expenses
Assets
Debt
Liabilities
What is the definition of needs?
Income remaining after deduction of taxes and other mandatory changes available to be spent or saved as ones wishes.
Something that is required because it is essential or very important.
The object of a person's ambition or effort.
Money deposited in a financial institution is insured up to:
$250,000
$400,000
$200,000
$100,000
Don’t leave a savings account as your last financial priority.
True
False
Do leave a savings account as your last financial priority.
True
False
When you use a debit card, you give your bank permission to immediately remove money from your bank account.
True
False
___________ is an essential component of good budgeting.
Assets
Savings
Income
Expenses
What is a budget?
A plan to manage income and expenses
Average yearly income
A plan that poor people need to use
