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Budgeting Vocab Chapter 1-3

Total questions: 13

Worksheet time: 7mins

Name
Class
Date
1.

Phillip has a job and has to make a monthly budget. What is a budget?

a)

A plan for spending and saving.

b)

A discount

c)

A receipt

2.

Andrew gets a job and opens a checking account. What is a checking account?

a)

Extra money given for good service

b)

An account that lets a person deposit or spend money

3.

Arey deposits money into her account. Is she

a)

Taking money OUT

b)

Putting money IN

4.

Jazmine decides to withdraw money. She is

a)

Taking money OUT

b)

Putting money IN

5.

Which shows a receipt for Destiny's groceries?

a)

b)

6.

Lizzie found some jeans on sale. This means that the jeans are sold at a

a)

higher price

b)

lower price

7.

Leo buys a new video game and has to pay the sales tax. What is a sales tax?

a)

A tax added to the price of the game

b)

A tax that lowers the price of the game

8.

Diego uses a __________ card to borrow money to buy something on credit.

a)

credit

b)

debit

c)

birthday

9.

There is a discount on the superhero costume that Danny wants to buy. This means the costume is

a)

a higher price

b)

a lower price

10.

Kendall finally buys a Bugatti. Is Kendall's monthly car payment a

a)

fixed expense (stays the same)

b)

variable expense (it changes)

11.

The monthly amount Kevin spends on video games is a

a)

fixed expense (stays the same)

b)

variable expense (it changes)

12.

Ms. Maranda goes out to eat and gives her waitress a tip when she pays. What is a tip?

a)

A discount on food

b)

Extra money given for good service

13.

Ms. Alexa has to pay taxes. Taxes are a

a)

deduction

b)

discount