Part 1: Multiple Choice Instructions
Choose the answer that best fits each statement below.
1. As you begin your budgeting process, a good place to start is to prepare a
a. Budget variance
b. Budget estimate
c. Budget plan
d. Budget contribution
I
2. What type of expense fluctuates month to month?
a. Emergency
b. Fixed
C. Variable
d. Discretionary
3. Which is an example of a financial statement?
a Bank statement
b Statement of contributions
C. Fixed and variable statement
d. Periodic statement
4. What is it called when you put money aside specifically for use in difficult situations?
a Income fund
b. Opportunity fund
c. Fixed expense fund
d. Emergency fund