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Science
Economics
Budgeting Pre-Test
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Budgeting Pre-Test
Philip Rogers
17 October 2022
4.7
(114 reviews)
10 test answers
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(6)
question
From what part of income should someone take savings?
answer
what otherwise would be discretionary income
question
Paying for transportation to and from work is an example of
answer
a variable expense.
question
When should fixed and variable monthly budgeted expenses first be planned?
answer
at the start of each month
question
To create a balanced budget, one must make sure to
answer
spend less than or equal to income.
question
Why might variable expenses change a great deal at different times of year?
answer
Heating and cooling costs might vary considerably.
question
What effect would a tax increase have on income?
answer
It would not affect gross income.
question
To change gross income, someone would need to
answer
earn more money.
question
What is most likely the reason variable expenses should be planned after fixed expenses?
answer
Fixed expenses are required and constant, but variable expenses are more flexible.
question
Why is net income lower than gross income?
answer
withholdings
question
An expense that is constant each month is called a expense.
answer
fixed
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