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Chase has decided to work with a spending plan so he can build up an emergency fund for when he is in college. He learned in class that he could probably reduce his spending the most by looking at his noncontractual expenses. Which of his expenses be
A spending plan includes items not usually included when creating a budget.
the balance on his credit card
increase his assets.
Gasoline, food, and entertainment
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Taxes she paid based on her income last year
Money in the paycheck he will receive next week
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
Jonah is writing down his liabilities to complete his Statement of Financial Position. The item he should include would be:
A spending plan includes items not usually included when creating a budget.
the balance on his credit card
increase his assets.
Gasoline, food, and entertainment
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Taxes she paid based on her income last year
Money in the paycheck he will receive next week
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
Brett is creating a Statement of Financial Position and needs to list his assets. Which of the following should he not list as an asset?
A spending plan includes items not usually included when creating a budget.
the balance on his credit card
increase his assets.
Gasoline, food, and entertainment
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Taxes she paid based on her income last year
Money in the paycheck he will receive next week
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
Diana and Aaron have decided to develop a spending plan to help them gain control over their finances. Which statement is not true about spending plans?
A spending plan includes items not usually included when creating a budget.
the balance on his credit card
increase his assets.
Gasoline, food, and entertainment
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Taxes she paid based on her income last year
Money in the paycheck he will receive next week
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
Andy is developing an Income and Expense Statement. He has gathered all his receipts, bank statements, paycheck stubs, and spending records. He needs to categorize them into income and expenses. He is unsure which items should be recorded as expenses
A spending plan includes items not usually included when creating a budget.
the balance on his credit card
increase his assets.
Gasoline, food, and entertainment
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Taxes she paid based on her income last year
Money in the paycheck he will receive next week
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
Erin and her mother are putting together an Income and Expense Statement for Erin to use as she applies for a college scholarship. Which income source does she not need to include for this statement?
A spending plan includes items not usually included when creating a budget.
the balance on his credit card
increase his assets.
Gasoline, food, and entertainment
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Taxes she paid based on her income last year
Money in the paycheck he will receive next week
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
Amanda and Marcus just finished their Income and Expense Statement for last month. They discovered that they have a net gain. What does this mean and what should they do?
A spending plan includes items not usually included when creating a budget.
the balance on his credit card
increase his assets.
Gasoline, food, and entertainment
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Taxes she paid based on her income last year
Money in the paycheck he will receive next week
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
To increase his net worth, Jackson could:
A spending plan includes items not usually included when creating a budget.
the balance on his credit card
increase his assets.
Gasoline, food, and entertainment
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Taxes she paid based on her income last year
Money in the paycheck he will receive next week
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
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