7
QuizMultiple Choice

3.11 Budgeting

Question 7 • Personal Finance - EL3403

Leo’s car broke down, and he must find money in his limited budget to pay the repair bill.Which of the following is the best solution for Leo to handle the unplanned spending?

Answer
A
Leo forgoes going out to dinner.
B
Leo forgoes paying the rent on his apartment.
C
Leo forgoes paying his water bill.
D
Leo forgoes paying his electricity bill.

Explanation

Leo should cover the repair by cutting back on a nonessential expense. Going out to dinner is optional, while rent, water, and electricity are essential bills that should be prioritized. Therefore, forgoing dinner is the best solution.

AI-written and checked against the verified answer.

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