Balancing a Budget: Strategies for Financial Literacy

Balancing a Budget: Strategies for Financial Literacy

Assessment

Interactive Video

Mathematics

1st - 5th Grade

Hard

CCSS
7.RP.A.3, 4.MD.B.4, 1.OA.A.1

+4

Standards-aligned

Created by

Liam Anderson

FREE Resource

Standards-aligned

CCSS.7.RP.A.3
,
CCSS.4.MD.B.4
,
CCSS.1.OA.A.1
CCSS.6.NS.C.5
,
CCSS.7.NS.A.3
,
CCSS.7.NS.A.1A
,
CCSS.7.EE.B.3
,

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What grade level is the budget concept aimed at in this lesson?

Fourth Grade

Seventh Grade

Fifth Grade

Sixth Grade

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two main components needed to balance a budget?

Income and Debt

Debt and Credit

Expenses and Savings

Income and Expenses

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total income Spencer has for April?

$90

$60

$80

$70

Tags

CCSS.4.MD.B.4

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What causes a budget to be imbalanced towards the expense side?

Lower income than expenses

No expenses

Equal income and expenses

Higher income than expenses

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the total of Spencer's expenses before any adjustments?

$70

$80

$85

$75

Tags

CCSS.1.OA.A.1

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a good practice when creating a budget?

Mixing income and expenses in one category

Listing all expenses only

Separating income and expenses

Ignoring small expenses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it problematic to have expenses greater than income?

It increases financial stability

It is easier to track

It may require using credit cards to cover the deficit

It leads to savings

Tags

CCSS.6.NS.C.5

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