WorksheetsFinancial Literacy KS Quiz
Total questions: 26
Worksheet time: 13mins
What is an asset?
The process of setting aside money until a future date
Anything that is owned by an individual
An organized plan for saving and spending
Money owed to individuals, businesses, or institutions
What is a balanced budget?
A situation where income and expenses are equal
A situation where money is left over after all obligations have been paid
A situation where there is not enough money to cover expenses
An amount of money set aside to cover bills in case of emergency
What is disposable income?
The money you have to spend or save as you wish after taxes, social security, and other required and optional deduction have been withheld from your gross pay
The process of setting money aside to increase wealth over time
The total value of a person or company
Expenses that remain the same each month
What is impulse spending?
The act of paying money for something
The process of analyzing exposure to risk
Checking several alternatives to find the best product at the best price
Making purchases without comparing costs or benefits beforehand
What is net worth?
The total value of a person or company, calculated by subtracting liabilities from total assets
Money owed to individuals, businesses, or institutions
An organized plan for saving and spending
The process of setting aside money until a future date
What is the concept of 'Pay Yourself First'?
Expenses that increase or decrease
Using a portion of income to make charitable contributions
The ways in which a person typically uses money
The concept of putting aside a sum of money into savings each month before paying other bills
What is a financial plan?
The process of setting money aside to increase wealth over time
The act of paying money for something
A plan of action that allows a person to meet immediate needs and long-term goals
Expenses that remain the same each month
What means Comparison shop?
The money you have to spend or save as you wish after taxes, social
Checking several alternatives to find the best product at the best price
The things people pay for with their money
Typically used to measure the health of a business, it calculates income minus expenses
With respect to saving and investing, assets are
The things people pay for with their money
Checking several alternatives to find the best product at the best price
generally categorized as liquid (cash) assets and capital (investment) assets
Expenses that remain the same each month
What means Budget surplus?
Money owed to individuals, businesses, or institutions
A situation where money is left over after all obligations have been paid
Expenses that remain the same each month
An amount of money set aside to cover bills in case of emergency
What means Budget deficit?
A situation where there is not enough money to cover expenses
Typically used to measure the health of a business, it calculates income minus expenses
A situation where income and expenses are equal
A situation where money is left over after all obligations have been paid
What is Budget?
An amount of money set aside to cover bills in case of emergency
Typically used to measure the health of a business, it calculates income minus expenses
An organized plan for saving and spending based on your expected income and expenses
Expenses that remain the same each month
What means Cash flow?
A situation where income and expenses are equal
An amount of money set aside to cover bills in case of emergency
An organized plan for saving and spending based on your expected income and expenses
Typically used to measure the health of a business, it calculates income minus expenses
What means Emergency fond?
The things people pay for with their money
Typically used to measure the health of a business, it calculates income minus expenses
An amount of money set aside to cover bills in case of emergency
A situation where income and expenses are equal
What means Fixed expenses?
Expenses that remain the same each month
Money owed to individuals, businesses, or institutions
An amount of money set aside to cover bills in case of emergency
Checking several alternatives to find the best product at the best price
What means Flexible expenses?
Making purchases without comparing costs or benefits beforehand
The total value of a person or company, which can be calculated by subtracting liabilities from total assets
Expenditures that change each month and can be reduced or eliminated if necessary
The act of paying money for something
What means income?
Using a portion of income to make charitable contributions
Money owed to individuals, businesses, or institutions
The ways in which a person typically uses money
Money earned in exchange for work, or received from investments, allowance, or gifts
What means Investing?
The process of setting aside money until a future date instead of spending it today. The goal of saving is to provide funds for emergencies, short-term goals, and investments
The process of setting money aside to increase wealth over time and accumulate funds for long-term financial goals such as retirement
The total value of a person or company, which can be calculated by subtracting liabilities from total assets
Making purchases without comparing costs or benefits beforehand
What means Liabilities?
The ways in which a person typically uses money
The act of paying money for something
Money owed to individuals, businesses, or institutions
Money earned in exchange for work, or received from investments, allowance, or gifts
What means Record keeping?
The process of analyzing exposure to risk and determining the best way to handle such exposure
To write down information about a transaction or series of transactions
The concept of putting aside a sum of money into savings each month before paying other bills
Using a portion of income to make charitable contributions
What means Risk management?
The process of analyzing exposure to risk and determining the best way to handle such exposure
The process of setting aside money until a future date instead of spending it today. The goal of saving is to provide funds for emergencies, short-term goals, and investments
The total value of a person or company, which can be calculated by subtracting liabilities from total assets
The process of setting aside money until a future date instead of spending it today.
What means Savings?
The concept of putting aside a sum of money into savings each month before paying other bills
The process of setting aside money until a future date instead of spending it today. The goal of saving is to provide funds for emergencies, short-term goals, and investments
The total value of a person or company, which can be calculated by subtracting liabilities from total assets
Making purchases without comparing costs or benefits beforehand
What means Sharing?
The ways in which a person typically uses money
To write down information about a transaction or series of transactions
Using a portion of income to make charitable contributions
The process of setting aside money until a future date instead of spending it today.
What means Spending?
The process of setting aside money until a future date instead of spending it today.
Money owed to individuals, businesses, or institutions
The concept of putting aside a sum of money into savings each month before paying other bills
The act of paying money for something
What means Spending habits?
Using a portion of income to make charitable contributions
Expenses that increase or decrease
The ways in which a person typically uses money
Expenses that remain the same each month
What means Variable expenses?
Expenses that increase or decrease
The ways in which a person typically uses money
The act of paying money for something
Using a portion of income to make charitable contributions
