Budgets, Income, and Expenditure Statements (Grade 12 NSC Matric Mathematical Literacy): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is a budget?
What is a budget?
A plan for using income to cover expenses
How does salary differ from wages?
How does salary differ from wages?
Salary is monthly, wages are weekly
Which is an example of a fixed expense?
Which is an example of a fixed expense?
Rent
Which expense type changes over time according to the situation?
Which expense type changes over time according to the situation?
Variable expenses
What is the critical budget rule?
What is the critical budget rule?
Expenses should never exceed income
What is a surplus in budgeting?
What is a surplus in budgeting?
When income is greater than expenses
If total income is R7530 and expenses are R8690, what is the result?
If total income is R7530 and expenses are R8690, what is the result?
Deficit of R1160
In budget planning, what should be prioritised first?
In budget planning, what should be prioritised first?
Essential items like food and healthcare
Calculate 10% of R5000 for savings.
Calculate 10% of R5000 for savings.
R500
What does an income and expenditure statement show?
What does an income and expenditure statement show?
All money received and spent over a period