Managing Family Income Quiz
Authored by Sangita Basu
Science
11th Grade
Used 1+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is defined as the income from all sources in a family?
Expenditure
Family Income
Savings
Budget
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is NOT a source of family income?
Salary from a job
Rent from property
Interest from bank
Household chores
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the term for money spent to fulfill needs?
Budget
Expenditure
Income
Savings
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is the purpose of managing family income?
To reduce income
To save money
To avoid budgeting
To increase expenses
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is a characteristic of a good budget?
Inflexible
Accurate estimates of income
No prioritization
High expenditure
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
What is a spending plan also known as?
Budget
Income report
Savings plan
Expenditure list
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
How can a family save money according to the text?
By using free facilities
By ignoring income
By avoiding budgeting
By increasing expenses
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