Understanding Income and Expenditure

Understanding Income and Expenditure

6th Grade

15 Qs

quiz-placeholder

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Understanding Income and Expenditure

Understanding Income and Expenditure

Assessment

Quiz

Business

6th Grade

Easy

Created by

Fergal Conway

Used 1+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the word ‘income’ mean to you?

Income is the money earned from work or investments.

Income is a type of job.

Income refers to the amount of time spent working.
Income is the total number of employees in a company.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the word ‘expenditure’ mean to you?

Expenditure refers to the amount of money saved.

Expenditure is a type of job.

Expenditure means the income generated from sales.

Expenditure means the act of spending money.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which type of income is profit?

Regular Income

Irregular Income

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is paid per hours worked or product made?

A salary

A wage

A commission

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the difference between regular and irregular income?

Regular income is always higher than irregular income.
Irregular income is received monthly, while regular income is received annually.
Regular income is consistent (e.g., salary), while irregular income is unpredictable (e.g., freelance payments).

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Amy ears €10 an hour. If overtime was paid at a rate of time and a half what would Amy’s gross pay be?

€10

€15

€20

€30

7.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the current retirement age in Ireland?

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