Final Exam

Final Exam

Assessment

Flashcard

Social Studies

11th Grade

Hard

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

60 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is the purpose of a budget?

Back

The purpose of a budget is to allocate income and resources to meet financial goals and manage expenses.

2.

FLASHCARD QUESTION

Front

What are some common budgeting methods? Options: 50/30/20 method, envelope system, zero-based budgeting, balanced money formula, random allocation method, spending spree method, 80/20 method

Back

50/30/20 method, envelope system, zero-based budgeting, balanced money formula

3.

FLASHCARD QUESTION

Front

Why is it important to have an emergency fund?

Back

To provide a financial safety net for unexpected expenses or emergencies.

4.

FLASHCARD QUESTION

Front

What is a credit score and why is it important?

Back

A credit score is a numerical representation of an individual's creditworthiness.

5.

FLASHCARD QUESTION

Front

What a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay

Back

Net Income

6.

FLASHCARD QUESTION

Front

The cost of goods or services; money paid out

Back

Expense

7.

FLASHCARD QUESTION

Front

The knowledge and skill base necessary for people to be informed consumers and manage their finances effectively

Back

Financial Literacy

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?