What is a budget?
Personal Budget

Quiz
•
Business
•
9th - 10th Grade
•
Medium
Ragini Mathews
Used 6+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The amount of money you make in a year.
The estimate of your income and expenses.
Your expenses for the month
I don't know
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is one of the reasons you need a budget?
It's a visual of how much money you make and spend.
It does not show you how much money you spend
It doesn't help you plan for the future.
There is no reason; you do not need one.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is income?
All the money you receive.
salary
wage
All of the above
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are payments?
Money that you save.
Money that you spend in your day-to-day life.
Money that you receive.
Salary
5.
MULTIPLE SELECT QUESTION
1 min • 1 pt
A balanced budget means that your income is equal to your payments.
True
False
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What are the benefits of budgeting?
You know exactly how much income you receive, and how you are spending it.
You can achieve financial goals, such as going on an overseas trip or buying a car.
You can avoid getting into debt or having a deficit.
All of the above.
7.
MULTIPLE SELECT QUESTION
1 min • 1 pt
Surplus is the amount of money left over once all of your payments have been made.
True
False
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