Budget Boss

Budget Boss

11th Grade

10 Qs

quiz-placeholder

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Pre-Assessment

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Budget Boss

Budget Boss

Assessment

Quiz

Financial Education

11th Grade

Medium

Created by

Ina Barbalat

Used 24+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

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

50% for savings, 30% for needs, 20% for wants

40% for needs, 40% for wants, 20% for savings

60% for wants, 20% for needs, 20% for savings

50% for needs, 30% for wants, and 20% for savings

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

How can the envelope system help with budgeting?

It encourages spending more on non-essential items.

It allocates cash to specific categories, promoting discipline and visual tracking.

It allows for unlimited spending without consequences.

It eliminates the need for tracking expenses altogether.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What are fixed costs? Choose the right variant.

Cost of raw materials

Rent for office space

Advertising expenses for a campaign

Utility bills for the office

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What are variable costs? Provide two examples.

Overhead costs such as utilities and insurance

Raw materials and direct labor costs

Depreciation costs on equipment and machinery

Fixed costs like rent and salaries

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which of the following is commonly used as a symbol for saving money, especially small amounts over time?

Wallet

Piggy Bank

Credit Card

Safe

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What does the meaning of "profit" generally in business?

The total amount of money a business earns before expenses are deducted

The money remaining after all expenses are subtracted from revenue

The total value of all goods sold by a business

The amount of money invested in a business

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is the correct definition of Cash Flow?

The amount of money saved in a piggy bank for future expenses.

The total income earned from a job over a year.

The movement of money in and out of a business or individual's finances over a specific period.

The percentage of income allocated to entertainment and leisure activities.

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