Gr7 EMS | Term 2 Lesson 5 | Financial Literacy Budgets

Question 1

3. A budget can help a person to save money

Accepted Answer

True

Question 2

7. The purpose of budgeting is not to help with paying off debts.

Accepted Answer

False

Question 3

5. The purpose of budgeting is to provide a future plan of income and expenses.

Accepted Answer

True

Question 4

2. You cannot adjust your budget as you go on.

Accepted Answer

False

Question 5

4. The main income for a household is wages and salaries.

Accepted Answer

True

Question 6

8. Review Cyril's personal budget for April 2021 Then answer: Income: Pocket money R400; Washing cars over the week

Accepted Answer

R600

Question 7

1.A budget is a plan of how much money you have and how you spend it.

Accepted Answer

True

Question 8

10. How much money does Cyril have left for the month?

Accepted Answer

R150

Question 9

Review Cyril's personal budget for April 2021 then answer: Expenses: Toiletries R100; Transport ticket R150; Tuck s

Accepted Answer

R450, R100

Question 10

6. The purpose of budgeting is to determine running costs.

Accepted Answer

True

Questions 10