|Name: _________________________||Period: ___________________|
This quiz consists of 5 multiple choice and 5 short answer questions through Chapter 7.
Multiple Choice Questions
1. What should be included in the "miscellaneous" category?
(a) Items purchased less than once a month.
(c) Gazingus pins.
(d) Items under $10.
2. How often should people total their income and expenses?
(b) Whenever a paycheck is deposited.
(c) Once a week.
(d) Once a month.
3. What should the amount started with at the beginning of the month, plus total income, minus total expenses equal?
(a) Net worth.
(b) The amount of money they have left at the end of the month.
(c) The amount shown on a bank statement.
(d) Gross income.
4. If "work" is different from "paid employment," then which of the following is true?
(a) Volunteer jobs are not work.
(b) Work includes anything people do to provide a service, including cleaning the house.
(c) Cleaning is only work when it's done by a paid professional.
(d) Retirement is the absence of work.
5. The wall chart should accommodate data for how long?
(a) Five to seven years.
(b) Until retirement.
(c) Five to seven months.
(d) Seven to ten years.
Short Answer Questions
1. If people earn more than the minimum needed to pay bills, what should they do with the extra money?
2. What are "gazingus pins?"
3. The numbers along the y-axis should increase by what increment?
4. People should have enough savings to cover expenses for how long?
5. If people stop buying any extras at all, what are they in danger of doing?
This section contains 306 words
(approx. 2 pages at 300 words per page)