Budget Test
Authored by Shenia Williams
Financial Education
7th Grade
Used 4+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Short - term goals are:
a) hard to reach
b) accomplished in less than a year
c) personal
d) categorized by wants and needs
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount of earnings made over one month, after deductions, is known as :
a) Total annual income
b) Net monthly income
c) Gross monthly income
d) Gross annual income
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A record of income and expenditures for a given period of time is called a/an:
a) Credit
b) Investment
c) Budget
d) Interest
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When budgeting, the first categories to consider are those that meet your:
a) Wants
b) Needs
c) Discretionary funds
d) Important expenses
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In what category of typical family budget do people spend most of their money?
a) Food
b) Housing
c) Transportation
d) Entertainment
6.
OPEN ENDED QUESTION
3 mins • 1 pt
What is the diffenence between a short term-goal and a long - term goal?
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7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jason went to the grocery store to buy a gallon of milk for his mother. While waiting in the checkout line, he saw a display for a new chocolate-caramel candy bar, so he bought it, too. The candy bar purchase is an example of a/an:
a) Special treat
b) Impulse buy
c) Need
d) Payment for running an errand for his mom
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