Podcast
Questions and Answers
What is the total income for the month of September?
What is the total income for the month of September?
- 7500
- 15000
- 18000 (correct)
- 8000
What is the budget status for the month of October?
What is the budget status for the month of October?
- No budget
- Budget surplus
- Break even
- Budget deficit (correct)
What is the highest total expense among the three months?
What is the highest total expense among the three months?
- November (correct)
- September
- October
- Equal for all three months
What is one of the purposes of establishing a financial goal?
What is one of the purposes of establishing a financial goal?
What is an obstacle that can prevent an individual from achieving their financial goals?
What is an obstacle that can prevent an individual from achieving their financial goals?
What is the result of subtracting the total expense from the total income for the month of September?
What is the result of subtracting the total expense from the total income for the month of September?
What percentage of the budget is allocated for Car maintenance?
What percentage of the budget is allocated for Car maintenance?
What is the main purpose of the strategic plan in personal budgeting?
What is the main purpose of the strategic plan in personal budgeting?
What is the recommended basis for revenue projection in budgeting?
What is the recommended basis for revenue projection in budgeting?
What is the main purpose of fixed cost projection in budgeting?
What is the main purpose of fixed cost projection in budgeting?
What percentage of the budget is allocated for Savings?
What percentage of the budget is allocated for Savings?
What is the primary purpose of a personal budget?
What is the primary purpose of a personal budget?
What is the first step in developing and managing a personal budget?
What is the first step in developing and managing a personal budget?
What type of expense costs the same amount each month?
What type of expense costs the same amount each month?
Which of the following is an example of a variable expense?
Which of the following is an example of a variable expense?
What is the definition of income?
What is the definition of income?
What is the benefit of budgeting in an organization?
What is the benefit of budgeting in an organization?
Which of the following is a source of income?
Which of the following is a source of income?
What is a key principle of budgeting in relation to the people involved in the process?
What is a key principle of budgeting in relation to the people involved in the process?
What is the purpose of calculating interest and loan repayment in a budget?
What is the purpose of calculating interest and loan repayment in a budget?
What is a way to reduce expenses, as mentioned in the text?
What is a way to reduce expenses, as mentioned in the text?
What does a budget performance result of 'zero' indicate?
What does a budget performance result of 'zero' indicate?
What is the term for the amount by which the budget is less than the actual income?
What is the term for the amount by which the budget is less than the actual income?
What is the purpose of comparing actual expense and income with budget expense and income?
What is the purpose of comparing actual expense and income with budget expense and income?
What is the characteristic of a fixed cost?
What is the characteristic of a fixed cost?
What type of expenses can be budgeted and are role-led?
What type of expenses can be budgeted and are role-led?
Why is it important for not-for-profit organizations to have a targeted profit margin?
Why is it important for not-for-profit organizations to have a targeted profit margin?
Who should approve the budget and keep current with its performance?
Who should approve the budget and keep current with its performance?
Why is it important for the owner to review monthly financial statements?
Why is it important for the owner to review monthly financial statements?
How often should the budget review committee meet to monitor performance against goals?
How often should the budget review committee meet to monitor performance against goals?
