This quiz works best with JavaScript enabled. Home > Finance > Management > Money Management – Quiz 13 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Money Management Quiz 13 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following would not be considered an expense? A) Taxes Paid. B) Tax Refund. C) Insurance Payment. D) Savings set aside. Show Answer Correct Answer: B) Tax Refund. 2. ..... are what you spend money on. A) Budgets. B) Income. C) PYF. D) Expenses. Show Answer Correct Answer: D) Expenses. 3. I have been setting aside $ 100 a month for my children to have money to go to college. This idea is known as what? A) Savings. B) Credit. C) Income. D) Debt. Show Answer Correct Answer: A) Savings. 4. A plan for spending and saving is a A) Budget. B) Long term Goal. C) Google Sheet. D) Spreadsheet. Show Answer Correct Answer: A) Budget. 5. Expenses A) Financial duties or bills. B) Job. C) Loan. D) Credit. Show Answer Correct Answer: A) Financial duties or bills. 6. What reports net wages and income with spending? A) Investment income. B) Financial plan. C) Cash flow statement. D) Fixed expense. Show Answer Correct Answer: C) Cash flow statement. 7. What is accumulation and management of property? A) Estate planning. B) Cash flow statement. C) Personal assets. D) Financial plan. Show Answer Correct Answer: A) Estate planning. 8. Sebastian owns a car that is worth $ 4, 500, a coin collection worth $ 250, and has $ 2, 500 in his checking account. He owes $ 1, 500 on his credit card and $ 2, 000 for a medical bill. What is Sebastian's net worth? A) $ 10, 750. B) $ 3, 750. C) $ 7, 750. D) None of above. Show Answer Correct Answer: B) $ 3, 750. 9. The DECIDE strategy includes ..... A) Choosing 2-3 good options. B) Defining your goal. C) Evaluating results. D) All of these. Show Answer Correct Answer: D) All of these. 10. An important consideration when saving money for emergencies is: A) High growth potential. B) High degree of safety and liquidity. C) Diversification. D) Return on investment. Show Answer Correct Answer: B) High degree of safety and liquidity. 11. Salary employees don't have to ..... A) Clock in hourly. B) Get time and a half. C) Sign a time sheet. D) None of above. Show Answer Correct Answer: C) Sign a time sheet. 12. Mr. Johnson received $ 1, 750 on his paycheck for two weeks. He got $ 275 taken out of his check for taxes and $ 125 for his health insurance. The amount he had left is defined as his- A) Gross income. B) Net income. C) Income tax. D) Property tax. Show Answer Correct Answer: B) Net income. 13. This is money you can get to pay for college, which has to be paid back. A) Scholarhip. B) Grant. C) Student Loan. D) College Savings. Show Answer Correct Answer: C) Student Loan. 14. Doing a budget does not: A) Show if you are overspending in an area. B) Make overspending more likely. C) Remove guilt and shame sometimes associated with purchase. D) Make your money go further. Show Answer Correct Answer: B) Make overspending more likely. 15. Merchants agree to accept money in exchange for their ..... ; employees agree to accept money in exchange for their ..... A) Goods, labor. B) Supply, demand. C) Money, labor. D) Labor, money. Show Answer Correct Answer: A) Goods, labor. 16. What is income? A) Money spent. B) Money earned. C) Money saved. D) Money invested. Show Answer Correct Answer: B) Money earned. 17. A ..... allows students to work on or off campus to earn money to help pay college costs. A) Scholarship. B) Grant. C) Federal work study. D) Federal loan. Show Answer Correct Answer: C) Federal work study. 18. A person's taxes can be reduced by A) Exemptions. B) A tax credit. C) Donations to charitable organizations. D) All are true. Show Answer Correct Answer: D) All are true. 19. Amounts spent for food, clothing, and other living costs. A) Cash outflows. B) Pension. C) Annuity. D) None of above. Show Answer Correct Answer: A) Cash outflows. 20. The amount of money a person earns during a year A) Income. B) Expenditure. C) Savings. D) Debt. Show Answer Correct Answer: A) Income. ← PreviousNext →Related QuizzesFinance QuizzesMoney Management Quiz 1Money Management Quiz 2Money Management Quiz 3Money Management Quiz 4Money Management Quiz 5Money Management Quiz 6Money Management Quiz 7Money Management Quiz 8Money Management Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books