Family income includes
Income Management

Quiz
•
Other
•
11th - 12th Grade
•
Hard
Indhu G
Used 17+ times
FREE Resource
17 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
(A) Money income
(B) Real Income
(C) Both
(D) None
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements are TRUE
(i) Needs are deficiencies that must be fulfilled.
(ii) Needs essential to our survival are called primary needs.
(iii) While making a budget priority must be given to Desires rather than to needs.
(iv) Desires are not essential for our survival but are things that we wish to possess.
(i) , (ii) and (iii)
(i) and (ii)
(ii) and (iv)
(i) , (ii) and (iv)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Food is a ___________
Primary need
Secondary need
Desire
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Going on a vacation is a ___________
Primary need
Secondary need
Desire
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Having a good transport is a ___________
Primary need
Secondary need
Desire
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
___________ is a planned approach to spend money.
Time plan
Budget
Expenditure record
Bank balance
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Which of the following do we need to keep in mind while making a budget. (You can select more than one option)
Prioritize primary needs first
Allot money according to the importance of the expense
Money must be set aside for savings and investments
Expenditure must be more than the income.
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