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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?
Taxes she paid based on her income last year
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
A spending plan includes items not usually included when creating a budget
increase his assets
Spending plans are always under revision so they are never complete.
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Decrease expenses
Money in the paycheck he will receive next week
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?
Taxes she paid based on her income last year
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
A spending plan includes items not usually included when creating a budget
increase his assets
Spending plans are always under revision so they are never complete.
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Decrease expenses
Money in the paycheck he will receive next week
When is your spending plan complete?
Taxes she paid based on her income last year
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
A spending plan includes items not usually included when creating a budget
increase his assets
Spending plans are always under revision so they are never complete.
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Decrease expenses
Money in the paycheck he will receive next week
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
Taxes she paid based on her income last year
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
A spending plan includes items not usually included when creating a budget
increase his assets
Spending plans are always under revision so they are never complete.
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Decrease expenses
Money in the paycheck he will receive next week
To increase his net worth, Jackson could:
Taxes she paid based on her income last year
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
A spending plan includes items not usually included when creating a budget
increase his assets
Spending plans are always under revision so they are never complete.
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Decrease expenses
Money in the paycheck he will receive next week
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?
Taxes she paid based on her income last year
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
A spending plan includes items not usually included when creating a budget
increase his assets
Spending plans are always under revision so they are never complete.
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Decrease expenses
Money in the paycheck he will receive next week
If expenses were to exceed income on a spending plan, what would be a financially smart solution?
Taxes she paid based on her income last year
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
A spending plan includes items not usually included when creating a budget
increase his assets
Spending plans are always under revision so they are never complete.
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Decrease expenses
Money in the paycheck he will receive next week
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?
Taxes she paid based on her income last year
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
A spending plan includes items not usually included when creating a budget
increase his assets
Spending plans are always under revision so they are never complete.
Amanda and Marcus are earning more money than they are spending. They could place additional money in savings and/or spend it
Decrease expenses
Money in the paycheck he will receive next week
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