Banzai Test

An IOU is an example of:

• a savings account

• a secret you keep for a friend

• a personal loan

• a budget

How does your money grow once you put it in a savings account?

• It earns interest over time.

• The bank gives everyone the same amount each year.

• You take money out to buy something you want.

• It doesn't grow. It stay the same amount as long as it is in the bank.

What is income?

• Money that you owe another person.

• Money that you put in your savings account.

• Money that you earn.

• Money that you spend on fun stuff for yourself.

You did some grocery shopping for your mom. She gave you a $10 bill and a list for oranges for $2.50, milk for $2.50, pasta for $1.25, and juice for $2. How much change will you get back?

• $1.25

• $3.50

• No change.

• $1.75

Why do people need a budget?

• To keep track of money earned and money spent.

• To keep track of your income over time.

• To keep track of the money in your savings account.

• None of the above.

Which of the following could be considered a business expense?

• School supplies.

• Monthly deposits into your savings account.

• Registration fees for Spanish Club.

• The lemons and sugar you bought to sell lemonade.

You make $19.50 for babysitting with your BFF. If you bought some candy for the kids that cost $3.50 and you split the profit equally with your friend, how much money will you make?

• $8.00

• $9.50

• $9.75

• $5.25

You are selling cupcakes at a bake sale. Each cupcake costs $0.50 each and someone buys 7 of them with a $5 bill. What is the best way to give the change?

• A $1 bill, one quarther and one dime.

• Two $1 bills and two quarters.

• A $1 bill and two quarters.

• Four quarters and five dimes.

What is interest?

• Money that you deposit in an account at the bank.

• Money that the bank pays you for keeping your money in there.

• Money that you don't need right now.

• Money that you earn by working.

What is a deposit?

• Money you spend at the store.

• Money you put in your savings account.

• Money you take out of your account.

• The change you receive after a purchase.