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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

12 Questions3 MinutesCreated by FinancialGuru42

Name:

What is income?

The money you spend

The money you receive

What is Expense?

The money you spend

The money you receive

What is profit?

Income

Expense

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

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