FREE AND STUDY GAMES ABOUT BUDGETING EXAM

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FREE AND STUDY GAMES ABOUT BUDGETING EXAM

QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -18 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Discretionary Expense

Answer:

eating out

Question 2: Carbon Check

Answer:

A cop of each check you write

Question 3: Intermittent Expenses

Answer:

Expenses that occur at various times throughout the year and tend to be in large lump sums

Question 4: Variable Expenses

Answer:

Expense that vary from month to month

Question 5: Intermittent Expense

Answer:

car repairs

Question 6: Cash flow statement

Answer:

A summary that shows total income and spending for a given time period

Question 7: Overdraft

Answer:

Occurs when money is withdrawn from a bank account and the available balance goes below zero

Question 8: Impulse Purchase

Answer:

An item that is bought without previous planning or consideration of the long-term effects

Question 9: Zero-based budget

Answer:

A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expense equals zero

Question 10: Fixed Expense

Answer:

rent

Question 11: Fixed Expenses

Answer:

Expenses that remain the same from month to month

Question 12: Discretionary Expenses

Answer:

Expenses for things we don't need

Question 13: Envelope System

Answer:

Series of envelopes that are divided into categories and are used to store cash for planned monthly expenses

Question 14: Check register

Answer:

Your own record of transactions, most current balance

Question 15: Budget

Answer:

A written cash flow plan

Question 16: Debit card

Answer:

Can be used for both in store and online purchases

Question 17: Reconcile

Answer:

To match your bank statement with your checkbook

Question 18: Variable Expense

Answer:

groceries