Lauren Mcguane
Quiz by , created more than 1 year ago

quiz on expenditure

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Lauren Mcguane
Created by Lauren Mcguane about 7 years ago
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Expenditure quiz

Question 1 of 9

1

What is an opportunity cost?

Select one or more of the following:

  • making a decision/choice based on limited/scarce resources.

  • Buying on the spur of the moment.

Explanation

Question 2 of 9

1

What is Impulse buying?

Select one of the following:

  • Buying on the spur of the moment

  • Buying something because it is cheap even when you don’t need it.

Explanation

Question 3 of 9

1

What is false economy?

Select one of the following:

  • Buying something because it is cheap even when you don’t need it.

  • buying on the spur of the moment

Explanation

Question 4 of 9

1

What is fixed expenditure?

Select one of the following:

  • Is money that is spent at the same time each week, month, year.

  • Money spent at different times which varies.

Explanation

Question 5 of 9

1

what is Irregular expenditure?

Select one of the following:

  • The amount paid out varies and is paid at different times.

  • money you spend on things you can live without

Explanation

Question 6 of 9

1

What is prioritising? (budgeting)

Select one of the following:

  • Is money you spend on things you can live without (luxuries)

  • If you have a limited income you must plan to spend.

Explanation

Question 7 of 9

1

What do you do if you have a deficit budget?

Select one of the following:

  • dont pay bills

  • reduce discretionary expenditure

Explanation

Question 8 of 9

1

What is current expenditure? (Revenue expenditure)

Select one of the following:

  • spending on durable items.

  • spending on day to day items

Explanation

Question 9 of 9

1

What is capital expenditure?

Select one of the following:

  • spending on day to day items

  • Is spending on durable items.

Explanation

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