Questions


October 2022 1 2 Report
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14. Maralit's family has no problem with the supply of water and electricity in their community. These are examples of
income.
A. Household
C. Psychic
B. Money
D. Real
15. The Reyes family has a vegetable garden in their backyard. Excess harvests are sold in the neighborhood, which is
good source for income.
A. Material
C. Real
B. Psychic
D. Supplementary
16. Which of the following is the first rule for making a good plan in allocating budget for your family?
A. Household income must be greater than household expenses.
B. Household income must be lesser than household expenses.
C. Household income must be equal to household expenses.
D. Household expenses must be doubled of your household income.
17. All of the following are examples of mandatory expenses that can't be eliminated except
A. Monthly Bills
C. Child Health Care
B. Property Taxes
D. Gambling
18. Mrs. Ramos considers needs of her family in preparing budget plan rather than wants. Which is considered as wants
only?
A. Magazines
C. Cleaning supply
B. Laundry detergent
D. Toothpaste
19. Which of the following needs the greatest percentage of your budget in making guidelines of family income?
A. Education
C. Savings
B. Personal needs
D. Food​

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