Biz 8 Intro To Biz Personal Finance I: Question Preview (ID: 21303)

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Whenever you use your credit card; you will have to pay ___ along with the cash you borrowed.
a) credit
b) interest
c) income
d) taxes

Debit cards are preferred over credit cards for most consumers because....
a) it's tied to your bank account
b) there are interest charges
c) it builds you credit score
d) all of the above

When paying off a credit card you should:
a) pay it all off even if it wipes out your money
b) pay the minimum payment since it cost you less that month
c) never, ever use credit cards.
d) always pay more than the minimum

Income that you have left over after taxes, bills, and other necessary expenses is called ________ income.
a) discretionary
b) savings
c) interest
d) taxable income

Most credit card companies let you borrow unlimited amounts of money.
a) true
b) false

The interest you charge on a credit card over an entire year was called:
a) internal revenue service (IRS)
b) cost benefit analysis (CBA)
c) operating benefit analysis (ORC)
d) annual percentage rate (APR)

Accounting for how much money you'll have after necessary expenses is...
a) budgeting
b) financial responsibility
c) financing
d) none of the choices

Good credit can make you more money when you borrow money to someone else.
a) true
b) false

Credit Cards offer
a) all of these
b) cash back specials
c) bonus miles
d) discounts

When you have the opportunity to, you should pay with a ____ card first.
a) Debit
b) Credit
c) Neither
d) Both

Expenses that change month to month are called...
a) variable expenses
b) fixed expenses
c) bad budgeting

A benefit of paying with cash is:
a) It's your money
b) You do not have to get a loan for it
c) You can only spend what you have
d) All of the above

T/F Budgeting will help you have extra money for unexpected expenses.
a) true
b) false

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