Chapter 7: Money In Review

12 Questions  I  By Theresaburton
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Money Quizzes & Trivia
A quiz on budgeting.

  
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Questions and Answers

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  • 1. 
    Why do you need a written budget even when you know you can afford your expenses?

  • 2. 
    What are some reasons why the balance in your checkbook might not match the balance on your bank statement?

  • 3. 
    Form used to do a budget
    • A. 

      Monthly cash flow forms

    • B. 

      Irregular income form

    • C. 

      Budget

    • D. 

      Reconcile


  • 4. 
    Form used by persons earning an inconsistent monthly income
    • A. 

      Monthly cash flow form

    • B. 

      Budget

    • C. 

      Irregular income form

    • D. 

      Duplicate checks


  • 5. 
    Process used to determine if the balance in your checking registry matches the balance reported on the bank statement
    • A. 

      Budget

    • B. 

      Reconcile

    • C. 

      Currency

    • D. 

      Duplicate checks


  • 6. 
    Another name for cash flow plan
    • A. 

      Budget

    • B. 

      Currency

    • C. 

      Reconcile

    • D. 

      Discipline


  • 7. 
    Helps people who forget to record checks in their register after writing them
    • A. 

      Currency

    • B. 

      Irregular income form

    • C. 

      Duplicate checks

    • D. 

      Debit card


  • 8. 
    Bounced checks are a sign of  ___________________ living.
    • A. 

      Normal

    • B. 

      Crisis

    • C. 

      Comfortable

    • D. 

      Both a and b


  • 9. 
    A written budget should be done every
    • A. 

      Month

    • B. 

      Week

    • C. 

      3 months

    • D. 

      6 months


  • 10. 
    Your monthly budget should include
    • A. 

      Fixed expenses

    • B. 

      Variable expenses

    • C. 

      Money to blow

    • D. 

      All of the above


  • 11. 
    What would account for a difference in balances in your checkbook registry and bank statement after reconciling the two?
    • A. 

      An error or omission

    • B. 

      Outstandiing checks that didn't clear

    • C. 

      Deposits that did not post

    • D. 

      All of the above


  • 12. 
    Doing a budget does NOT:
    • A. 

      Lead to an increase in arguments

    • B. 

      Make your money go farther

    • C. 

      Show if you are overspending in an area

    • D. 

      Remove guild and shame sometimes associated with purchases


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