Credit Multiple Choice

The amount of money that the issuing bank allows a credit card holder to spend.

• expenditure

• cash

• credit balance

• credit unit

A plan that allows us to make decisions about what to spend our money on.

• thrift

• credit

• budget

• list

Hire purchase and mortgage are types ______________________.

• debit

• budgets

• deposits

• credit

Credit card holders have to pay __________________ on their outstanding balance.

• interest

• cash

• dividend

• bonus

A wise consumer who does not make impulsive purchases but plans and manages his/her own resources wisely is__________.

• thrifty

• crafty

• smart

• A spendthrift

John earns $4000 per week. Before he begins to spend his money he makes a list of how it will be spent.

Expenses $

food 200.00

utilities 300.00

rent 500.00

education 400.00

transportation 500.00

loan repayment 600.00

savings 600.00

John's list called a/an

• account

• budget

• plan

• income

John earns $4000 per week. Before he begins to spend his money he makes a list of how it will be spent.

Expenses $

food 200.00

utilities 300.00

rent 500.00

education 400.00

transportation 500.00

loan repayment 600.00

savings 600.00

What percentage of John's earnings is spent on rent?

• 12.5%

• 15%

• 30%

• 50%

Money that is earned or received on a regular basis.

• income

• interest

• bonus

• reward

The difference between what a person earns and what a person spends.

• savings

• expenditure

• budget

• thrift

A current account is one for which a _______________ is issued.

• credit card

• deposit bond

• passbook

• cheque book