deda ke liye

deda ke liye

5th Grade

8 Qs

quiz-placeholder

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deda ke liye

deda ke liye

Assessment

Quiz

Business

5th Grade

Easy

Created by

Rayaan Shaikh

Used 2+ times

FREE Resource

8 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is budgeting?

The process of investing money in stocks

The process of creating a plan to spend your money.

The process of randomly spending money without a plan

The process of saving money without any plan

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is budgeting important?

To make it rain with money

To have no control over spending

To increase debt and financial stress

To manage finances and avoid overspending.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the first step in creating a budget?

Determine income and expenses

Guess how much money is needed

Ignore income and only focus on expenses

Start spending without tracking

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between fixed and variable expenses?

Fixed expenses are related to leisure activities, while variable expenses are related to necessities

Variable expenses are only paid once a year, while fixed expenses are paid monthly

Fixed expenses remain constant each month, while variable expenses can change from month to month.

Fixed expenses are always higher than variable expenses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the 50/30/20 rule in budgeting?

Ignoring debt repayment and savings

Spending all income on wants

Putting all income into savings

Allocating income to needs, wants, and savings/debt repayment

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are some common budgeting mistakes to avoid?

Saving too much money

Spending more than you earn, not tracking expenses, not having an emergency fund, not setting realistic goals

Setting unrealistic goals

Not having a budget at all

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How often should you review and adjust your budget?

Monthly

Weekly

Never

Yearly

8.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the benefits of budgeting?

Budgeting leads to overspending and financial instability

Budgeting restricts financial freedom and limits opportunities

Budgeting is time-consuming and unnecessary

Budgeting helps in managing finances, setting financial goals, tracking expenses, and avoiding debt.