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Budgeting
Test Description: Test your knowledge
Instructions: Answer all questions to get your test result.
1) Which software program is used to create a cash budget?
A
Word
B
DTP
C
Spreadsheet
D
Database
2) Wages received, birthday present from auntie are examples of
A
closing balance
B
cash out
C
cash in
D
opening balance
3) The money you have at the start when preparing a budget is called the
A
closing balance
B
opening balance
C
cash in
D
cash out
4) To calculate the total amount of money spent in a spreadsheet, you would use the following
A
= cell + cell + cell
B
= cell - cell - cell
C
use a calculator and key in answer.
D
=sum(cell:cell)
5) When adding more than two cells together you use
A
*
B
+
C
-
D
autosum
6) When subtracting cells the mathematical operator used is
A
/
B
+
C
*
D
-
7) To calculate the closing balance you would
A
add the opening balance, the cash in and the cash out all together.
B
add opening balance and cash in, then take away cash out
C
add cash in and cash out, then take away opening balance
D
add cash out to cash in, then add the opening balance
8) The money you have left over at the end is known as
A
cash out
B
opening balance
C
cash in
D
closing balance
9) Which of the following is NOT an example of cash in?
A
chore money received
B
pay back money borrowed
C
wages received
D
birthday money from auntie
10) What is the name of the document you prepare to plan your money in and out and work out how much you have left over.
A
a bank account
B
a budget
C
a letter
D
a form
*select an answer for all questions
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