Chapter 3:
Recordkeeping
1.
The McConnell's records for January, February, March, and April show that their expenditures totaled $2,004, $1,897, $2,345, and $2,426, respectively. What is their average monthly expenditure for the four months?
a.
$26,016
b.
$8,672
c.
$2,218
d.
$2,168
2.
The Browns used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses averaged $617, their monthly fixed expenses averaged $1,108, and their monthly share of annual expenses averaged $318, what amount should they expect to spend monthly?
a.
$170.25
b.
$2,043.00
c.
$3,816.00
d.
$24,516.00
3.
The LoBellos prepared an expense summary. They had planned to spend $380.00 on food for the previous month, but actually spent $391.25. How much more or less did they spend on food than they had budgeted for?
a.
$8.75 under
b.
$8.75 over
c.
$11.25 under
d.
$11.25 over
4.
The Gillen's records for September, October, and November show that their expenditures totaled $2,567.05, $2,678.16, and $2,781.57, respectively. What is their average monthly expenditure for the three months?
a.
$668.90
b.
$2,006.70
c.
$2,675.59
d.
$8,026.78
5.
The Drexels used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $716, their monthly fixed expenses are $1,262, and their annual expenses are $3,564, what amount should they expect to spend monthly?
a.
$461.83
b.
$1,978.00
c.
$2,275.00
d.
$5,542.00
6.
The Turcks prepared an expense summary. They had planned to spend $164.50 on utilities for the previous month, but actually spent $187.25. How much more or less did they spend on utilities than they had budgeted for?
a.
$22.75 under
b.
$22.75 over
c.
$45.50 under
d.
$45.50 over
7.
The Hutton's records for the past six months show that their expenditures totaled $2,786, $3,001, $2,875, $2,663, $2,471, and $2,803. What is their average monthly expenditure for the six months?
a.
$1,383.25
b.
$2,766.50
c.
$4,149.75
d.
$5,533.00
8.
The Chins used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $848, their monthly fixed expenses are $1,305, and their annual expenses are $3,816, what amount should they expect to spend monthly?
a.
$318.00
b.
$497.42
c.
$2,471.00
d.
$5,969.00
9.
The Scotts prepared an expense summary. They had planned to spend $217.25 on transportation for the previous month, but actually spent $212.50. How much more or less did they spend on transportation than they had budgeted for?
a.
$4.75 under
b.
$4.75 over
c.
$5.25 under
d.
$5.25 over
10.
The Silversteins used records of their past expenditures to complete their budget sheet for the upcoming new year. If their monthly living expenses are $912, their monthly fixed expenses are $1,457, and their annual expenses are $3,078, what amount should they expect to spend monthly?
a.
$256.50
b.
$453.92
c.
$1,457.00
d.
$2,625.50
Ch. 1-5
Ch. 6-10
Ch. 11-15
Ch. 16-20
Ch. 21-23
Ch. 1
Ch. 2
Ch. 3
Ch. 4
Ch. 5
Ch. 6
Ch. 7
Ch. 8
Ch. 9
Ch. 10
Ch. 11
Ch. 12
Ch. 13
Ch. 14
Ch. 15
Ch. 16
Ch. 17
Ch. 18
Ch. 19
Ch. 20
Ch. 21
Ch. 22
Ch. 23
