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