Creating a Personal Budget Answers
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1
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Review a software employee’s first paycheck.
A
needsB
savingsC
incomeD
expenses2
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Review the table.
A
housingB
insuranceC
car paymentD
gifts3
Review the table.
A
The total amount will be exactly the same.B
The money spent on a team outing will stay at $423.C
The payment to the internet company will be higher.D
The total amount will be at least $17,200.4
Review the table.
A
$0B
$15C
$35D
$405
Review the table.
A
Noah can use his credit card for expenses.B
Noah can budget money for emergency use.C
Noah can budget less for fun money.D
Noah can take out another loan.6
What is a common form of debt?
A
taxesB
student loansC
cell phone plansD
monthly subscriptions7
Review the table.
A
$100B
$200C
$250D
$4008
What category is most likely to contain expenses that are wants, rather than needs?
A
housingB
groceriesC
entertainmentD
transportation9
Review the table.
A
to save money to buy a surfboardB
to find a new source of incomeC
to change to a cheaper cell phone planD
to determine how to spend his fun money10
How do variable expenses make budgeting more difficult?
A
They include net income.B
They are not necessary for living.C
They change from month to month.D
They are higher than fixed expenses.Did you find these answers helpful?
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