Modules 111-113 Review Part 3 Question Preview (ID: 33866)


Modules 111-113 Review Part 3. TEACHERS: click here for quick copy question ID numbers.

A(n) _________________ is a spending plan that allows you to estimate how much money you will need for expenses during a specific period of time.
a) advance
b) budget
c) estimate
d) overdraft

A(n) _______________ is a result that you want to achieve quickly.
a) aspiration
b) budget
c) long-term goal
d) short-term goal

A(n) _______________ is a result that you want to achieve after an extended period of time.
a) aspiration
b) budget
c) long-term goal
d) short-term goal

Expenses that you must pay for in order to survive are
a) discretionary
b) necessary
c) optional
d) reasonable

Expenses that you pay beyond the items you need are
a) discretionary
b) necessary
c) required
d) reasonable

______________________is one example of a necessary expense.
a) a ticket to a movie
b) a new video game
c) a trip to bermuda
d) rent on an apartment

______________________is one example of a discretionary expense.
a) dinner at a restaurant
b) groceries
c) rent
d) clothing

A(n) _________________ budget plans expenses for the entire year
a) annual
b) bi-annual
c) monthly
d) weekly

_________________ is an example of an expense that would be covered by an emergency fund.
a) visiting friends in Florida
b) Buying a new outfit for a party
c) fixing a broken refrigerator
d) buying new furniture for a redecoration project

A long-term goal might involve
a) a haircut for the wedding you are attending
b) a new shirt for an important job interview
c) a backpacking trip through Europe
d) making next month's car payment

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