Finance Chapter 2 Test

Finance Chapter 2 Test

12th Grade

26 Qs

quiz-placeholder

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Finance Chapter 2 Test

Finance Chapter 2 Test

Assessment

Quiz

Other

12th Grade

Practice Problem

Easy

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26 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Taxes and withholdings impact your ______ ________, which is the amount of money you take home on your paycheck

Net Income

Net Worth

Income Earned

Gross Income

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The cost of groceries and gas is considered an _______ __________

Variable Expense

Discretionary Expense

Intermittent Expense

Fixed Expense

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

To budget with a _________ ___________, prioritize expenses from most to least important so your most important expenses are covered first.

Irregular Income

Cross Income

Based Budget

Standard Income

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A _______ _________ needs to be evaluated in light of your other expenses for the month.

Disrectionary Expense

Intermittent Expense

Variable Expense

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A ______ _______ stays the same from month to month.

Discretionary Expense

Fixed Expense

Intermittent Expense

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A __________ __________ should account for fixed, variable, intermittent, and discretionary expenses based on income.

Budgeted Income

Zero-based Budget

Gross Income

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a Budget do?

Gives you permission to spend

Causes you to go into debt

Limits your money and spending

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