Income, Expenses and Savings
Income, Expenses, and Savings Quiz
Test your knowledge about managing finances with our engaging quiz on income, expenses, and savings! Whether you're a beginner looking to learn or someone wanting to refresh your knowledge, this quiz has something for everyone.
You'll learn about:
- Definitions of income and expenses
- Understanding necessary vs unnecessary costs
- The concept of profit and savings
What is income?
The money you spend
The money you receive
What is Expense?
The money you spend
The money you receive
Rent and Utilities
Expense
Income
Expenses that meet needs are called___________________.
Unnecessary expenses
Necessary expenses
Expenses that meet wants are called_______________.
Unnecessary expenses
Necessary expenses
Expenses which help you to make money is called______________.
Non income making expenses
Income making expenses
Buying rickshaw to give on rent is _________________.
Income making expense
Non income making expense
Farhan buys a watch to gift his mother.
Earns money
Does not earn money
What are savings?
Income - Expenses
Income + Expenses
Do you have any saving when your expenses are more than income?
Yes
No
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