|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 7.
Multiple Choice Questions
1. What is the final part of Step 3?
(a) Choosing expenses to eliminate.
(b) Figuring out how much life energy went into each expenditure.
(c) Figuring out how much life energy remains.
(d) Determining net worth.
2. How should people reduce spending?
(a) By taking a lower-paying job.
(b) By staying home.
(c) By putting money in the bank.
(d) By increasing awareness of how much life energy it takes to pay for each expense.
3. What three columns should record-keeping include?
(a) Salary, gifts, and prizes.
(b) Necessities, luxuries, and expenses to eliminate.
(c) Gross income, life energy spent, and expenses to eliminate.
(d) Income, expenditures, and hours of life energy spent.
4. What is the key to good spending habits?
(a) Full complacency.
(b) Full contentment.
(c) Full consciousness.
(d) Full compulsion.
5. The wall chart should accommodate data for how long?
(a) Until retirement.
(b) Five to seven months.
(c) Five to seven years.
(d) Seven to ten years.
Short Answer Questions
1. A line should be drawn connecting the current month's income to what?
2. Why should readers not use premade categories from other budget books?
3. How do most people define work?
4. If people earn more than the minimum needed to pay bills, what should they do with the extra money?
5. How often should people total their income and expenses?
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