Budgeting

Question 1

Which statements best explain why income should be recorded at the beginning of a budget? Check all that apply.Income is the foundation for a budget.Budgets are based on variables, rather than on income.Putting income at the top helps to keep this number in mind.Placing income at the top allows expenses to be subtracted easily.Tracking income is more important than tracking expenses.

Revolt · Accepted Answer

Income is the foundation for a budget.; Putting income at the top helps to keep this number in mind.; Placing income at the top allows expenses to be subtracted easily.

Question 2

A fixed expense is one for which the amount is , and it should be considered other expenses.

Revolt · Accepted Answer

before

Question 3

A variable expense is one for which the amount is , and it should be considered fixed expenses.

Revolt · Accepted Answer

estimated

Question 4

A variable expense is one for which the amount is , and it should be considered fixed expenses.

Revolt · Accepted Answer

after

Question 5

Discretionary spending is the most budget item and the easiest to change.

Revolt · Accepted Answer

variable

Question 6

A fixed expense is one for which the amount is , and it should be considered other expenses.

Revolt · Accepted Answer

known

Budgeting Answers

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