Budget

Budget

7th Grade

50 Qs

quiz-placeholder

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Budget

Budget

Assessment

Quiz

Life Skills

7th Grade

Easy

Created by

Cassandra Godbolt

Used 1+ times

FREE Resource

50 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the Budget Rule?

50/30/20

50/30/10

40/30/20

50/20/20

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

50% of the Budget Rule represents

Wants

Needs

Savings

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

30% of the Budget Rule represents

Wants

Needs

Savings

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

20% of the Budget Rule represents

Savings

Needs

Wants

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When calculating a Budget, you should use your

Gross Pay

Net Pay

Savings

Allowance

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A budget is a detailed estimate of income and expenses for a specific period of time. It helps control your money

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Preparing a budget will help you with

Understanding your income

Look at what you own and owe

Evaluate how much you are spending

All of the above

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