What is a budget?

Budgeting Vocab

Quiz
•
Financial Education
•
12th Grade
•
Medium
Jessica Mode
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A plan for unexpected expenses
A written plan for giving, saving, and spending
A list of debts
A summary of past expenses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is income?
Money spent on groceries
Money received for work, as a gift, or through investments
Money saved in a bank
Money borrowed from a friend
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a fixed expense?
An expense that changes every month
An expense that remains the same from month to month
An expense that occurs once a year
An expense that is optional
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a variable expense?
An expense that is always the same
An expense that varies in dollar amount from month to month
An expense that is unnecessary
An expense that is paid annually
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an intermittent expense?
An expense that occurs monthly
An expense that occurs at various times throughout the year in large, lump sums
An expense that is always fixed
An expense that is always variable
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a discretionary expense?
An essential expense
An expense for things you don’t need
A fixed expense
A variable expense
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a zero-based budget?
A budget with no savings
A cash-flow plan that assigns an expense to every dollar of your income
A budget that only tracks income
A budget that ignores expenses
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