IL Unit 2 Test Review

IL Unit 2 Test Review

Assessment

Flashcard

Other

9th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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42 questions

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1.

FLASHCARD QUESTION

Front

According to the 50/20/30 budgeting rule, 30% of your net pay should be spent on _____.

Back

Discretionary expenses (e.g., gym membership) or Wants

2.

FLASHCARD QUESTION

Front

According to the 50/20/30 budgeting rule, 50% of your net pay should be spent on _____.

Back

Essential purchases (e.g., rent) Or Needs

3.

FLASHCARD QUESTION

Front

According to the 50/20/30 budgeting rule, 20% of your net pay should be spent on ___?

Back

Savings

4.

FLASHCARD QUESTION

Front

After depleting your food fund at Olive Garden, what would be the best option to do? Options: Take the rest out of your vacation fund. Take the rest out of your car payment fund. Take the rest out of your rent fund. Take the rest out of your utilities fund.

Back

Take the rest out of your vacation fund.

5.

FLASHCARD QUESTION

Front

Which of the following is defined as: The amount of money you expect to receive after deductions (taxes and benefits)

Back

Net Income

6.

FLASHCARD QUESTION

Front

People who rent property.

Back

Tenant

7.

FLASHCARD QUESTION

Front

Which of the following is defined as: A term used to reference electric, water, gas, and other services.

Back

Utilities

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