Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Personal Finance 8.02
Test Description: Personal Finance 8.02
Instructions: Answer all questions to get your test result.
1) Chuck prepared an income and expense statement, he found a way to plan his budget so he would not have to borrow money. Which benefit of financial planning does this illustrate?
A
Increasing the need for credit
B
Dereased sense of security
C
Not having resources to maintain standard of living
D
Being financially independent
2) Laura earned $40 this month and received $100 from a savings bond. She borrowed $25 and spent $120. Laura should list $5 on her income and expense statement as:
A
expenses.
B
net gain.
C
income.
D
net loss.
3) Jan spent $50 this month on clothing and $65 on entertainment. Jan should list these on her income and expense statement as:
A
net loss
B
income
C
net gain
D
expenses
4) Marie\'s balance sheet showed that the difference between her assets and liabilities was $5,000. This is the amount of Marie\'s:
A
asset.
B
liability
C
net worth
D
balance sheet
5) Jason has $500 in a savings account. He should list this on his balance sheet as a(n):
A
liability.
B
owner\'s equity.
C
asset.
D
net worth.
6) Karen owes her grandmother $85. She should list this on her balance sheet as a(n):
A
net worth.
B
asset
C
owner\'s equity.
D
liability.
7) Lily ran out of cash before getting paid for each of the past three pay periods. In order to take a closer look at her recent monthly earnings and spending, Lily needs to prepare a
A
spending plan.
B
savings plan.
C
income and expense statement.
D
balance sheet.
8) Haley just finished listing her financial goals and wants to determine her net worth. Haley needs to prepare a(n):
A
balance sheet
B
spending plan.
C
income and expense statement.
D
savings plan.
9) How much should you put in your primary emergency fund?
A
$1,000,000,000,000
B
$100
C
$10
D
$1,000
10) Where should you put your emergency fund?
A
sock drawer
B
bet on a horse
C
buried in the back yard
D
money market account
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?