Unit Billing

All are considered variable expenses except: utility bills

Gross pay is sometimes referred as take-home pay: false

Most financial advice saving at least what percent of your disposable income: 10%

It is important to keep cell phone contracts and student loan agreements for income tax purposes: false

Most financial experts recommend that fixed expresses should not exceed / of take-home pay: 50%-60

To calculate net pay, you would multiply the number of hours you worked by your hourly wage: false

Payroll deductions, FICA is: the social security tax.

Liabilities are things of value you own: false

The most common benefit that employers provide to employees is: health insurance

A budget is most commonly set up for a time period of a week, so you can keep on your current financial situation: false

Money you earn from completing a task, like selling a home or car is called: commission

A budget surplus is always better than a budget deficit, unless you have a high paying job and a great credit score:  false

If your income exceeds your expenses you are said to: have a budget surplus|

As a consumer, the two types of expenses you need to account are for fixed and variable: true

Which of the following would not be included in a budget: Income form a part time job

Your budget should be set up based on your gross pay, so you get the most for your money: false

A net worth is statement is most commonly used: to prepare for a budget

Disposable income is defined as careless or wasteful spending: false

Consumers should keep all of the following except: medical receipts for the past ten years

It is your responsibility to keep a copy of each agreement you sign in a safe place for future reference if needed: true

Car payments, mortgage payments, and student loan payments are examples of: fixed expenses

Employers must pay workers 1.5 times their regular hourly wage for hours they work over 40: true

Which of the following is the least important reason to create a budget: to prepare income tax return

You are said to be solvent when your assets are greater than your liabilities: True

A liquid asset is something owned that can be rapidly converted to cash without risk of significant loss: true