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Understanding Financial Capabilities

Authored by Nilesh Lal

Financial Education

10th Grade

Used 2+ times

Understanding Financial Capabilities
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are fixed expenses?

Fixed expenses are costs that only occur during peak seasons.

Fixed expenses are regular, recurring costs that do not fluctuate with production or sales volume.

Fixed expenses are optional costs that can be avoided.

Fixed expenses are one-time costs that vary each month.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Give two examples of fixed expenses.

Groceries

Utilities

Car Payments

Rent, Insurance Premiums

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do fixed expenses differ from variable expenses?

Variable expenses are predictable; fixed expenses are unpredictable.

Fixed expenses vary with production levels; variable expenses remain the same.

Fixed expenses are always higher than variable expenses.

Fixed expenses are constant; variable expenses change with activity.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are variable expenses?

Costs that are always predictable and stable

Expenses that are not related to consumption or usage

Variable expenses are costs that vary in amount and frequency, depending on consumption or usage.

Fixed expenses that remain constant each month

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

List three examples of variable expenses.

car insurance

rent payments

mortgage payments

groceries, entertainment, utility bills

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can you identify your variable expenses?

Variable expenses are fixed costs like rent and utilities.

Variable expenses are always the same every month.

Variable expenses include savings and investments.

Variable expenses are those that change month to month, such as groceries, dining, and entertainment.

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is take home pay?

Take home pay is the amount spent on living expenses.

Take home pay is the total salary before taxes.

Take home pay is the net income received by an employee.

Take home pay is the gross income before deductions.

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