Test Direction: Choose the letter of the correct answer.

1. It is the amount of money set aside for planned expenses. *

•Budget
•Salary
•Income

2. These are defined as the things that help us to survive like food, clothing and shelter. *

•demands
•needs
•priority

3. It is a budget component that gets the biggest percentage share in the family budget. *

•shelter
•food
•utilities

4. Television, computer and cellphones are examples of _______ that make our life comfortable. *

•demands
•needs
•wants

5. Who does the budgeting? *

•father
•daughter
•mother

6. This is an allocated budget for your parent or household helper when he or she does the grocery. *

•household operation
•Budgeting
•utilities

7. This refers to money paid by the family for goods and services that they avail. *

•Budgeting
•Utilities
•Expenses

8. This is the management of income and expenses of a family. *

•budgeting
•household operation
•expenses

9. This budget component refers to the payment of electric bill, water bill, and cable. *

•utilities
•Budgeting
•expenses

10. This refers to the payment of house rental. *

•expenses
•budgeting
•Shelter

11. _______ are defined as the things that help us survive like food, clothing, and shelter. *

•Wants
•Needs
•Priorities

12. ______ are those that make our life comfortable and enjoyable like television, computers, cellphones, etc. *

•Needs
•Wants
•Demands

13. _____ are the wants of every family. *

•Food
•Car
•Shelter

14. _____ are the basic needs of every family. *

•Computer
•Food
•Cellphone

15. ______are defined as budget for the house helper and home repairs. *

•Utilities
•Household Operations
•Shelter​