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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a budget?
💡 Hint: Think about what you need to manage your money.
Question 2
Easy
Name one category for expenses in a budget.
💡 Hint: What do you spend money on regularly?
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 first step in creating a budget?
- Estimate total income
- List commodities
- Check plans for success
💡 Hint: What is the first thing you do before calculating how much you have?
Question 2
True or False: A budget guarantees you won't overspend.
- True
- False
💡 Hint: Think about how planning helps, but it’s not foolproof.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A family lists their monthly income as $4000 and expenses as $4500. They decide to have a garage sale and earn an additional $300. What are their next steps to balance their budget?
💡 Hint: Consider both increasing your earnings and reducing unnecessary spending.
Question 2
If the costs of groceries are projected to rise by 10% next month, how should a family adjust its current budget to accommodate this change?
💡 Hint: Think about how you can cut back or find extra income to adjust for the increase.
Challenge and get performance evaluation