Practice Records and Accounts - 10.5.2 | 10. Financial Management and Planning | CBSE 11 Human Ecology and Family Sciences Part II
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is the purpose of keeping financial records?

💡 Hint: Think about what it helps families manage.

Question 2

Easy

Name one method of keeping financial records.

💡 Hint: Consider simple versus detailed methods.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is the primary purpose of keeping records?

  • To help with budgeting
  • To impress others
  • To store receipts

💡 Hint: Consider what records provide insights into.

Question 2

True or False: The single sheet method of record keeping is only for large businesses.

  • True
  • False

💡 Hint: Think about the usability of methods across various scopes.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A family has set a monthly budget of $2,000. They spend $1,200 on rent, $300 on groceries, and $500 on other necessities. If they want to save 10% of their budget this month, how much can they afford to spend on 'other necessities'?

💡 Hint: Calculate the savings before deducting expenses.

Question 2

How can a family evaluate their spending if they notice they have spent more than budgeted in one category, say groceries?

💡 Hint: Reflect on the records to inform future budget adjustments.

Challenge and get performance evaluation