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Quiz! for formative assessment Flashcards | StudBud

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Quiz! for formative assessment

9 terms·StudBud Administration·5 plays

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Questions 9

Answers

1
What does "Budget" mean?
Saving money
A type of car
A bank
Managing money
2
Which of these is considered income?
Refund from student loans
Money received from parents
All of the Above
Paycheck from part-time job
3
Variable expenses are
Money that goes into your savings account
Expenses like rent and utilities
Expenses that may change from month to month
Expenses that cost the same amount every month
4
Overdraft means someone has a lot of money in the bank
False
True
5
What are Expenses?
costs that change in amount every time
To owe someone
To buy things
Money spent to buy goods and services
6
What is something you need to do for money management
Lie about how much money you have
Make a plan
Buy more stuff
Take time to think about life
7
Replace this with a challenging question. Note- the wording of wrong answers are just as important as the right ones.
Red herring
Common misconception
Correct answer
Plausible answer
8
What is an overdraft?
Flat fee a bank charges for having an account.
When the bank owes you money and they pay you a fee.
When you owe the bank money and they charge you fee's.
9
What is a Fixed Expense?
Costs that change each time they are paid
Amount that you pay each time is the same
Made corrections to bank statement
amount of money you set aside to save