deda ke liye

Quiz
•
Business
•
5th Grade
•
Easy
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.
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