Direction: Read the following situations and be able to select the correct answer. Encircle
the correct answer.
1. Among the various material resources available in the family, which is considered as the
main resource?
A. Money
C. House
B Car
D. Lot
D. Free medical
D. Real
2. Which of the following is an example of real income?
A. Dividend of an insurance
0 Interest of savings
B. Free car from employer
D. Salary
3. The following are services as source of family income except
A. Free servants
B. Free transport C. Free gift check
facilities
4. Maralit's family has no problem with the supply of water and electricity in their
community. These are examples of
income.
A. Household
B. Money
C. Psychic
5. The Reyes family has a vegetable garden in their backyard. Excess harvests are sold in the
neighborhood, which is a good source for income.
A. Material
B. Psychic
C. Real
D. Supplementary
6. 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.
7. All of the following are examples of mandatory expenses that can't be eliminated except
A. Monthly Bills
B. Property Taxes
C. Child Health Car
Gambling
8. Mrs. Ramos considers needs of her family in preparing budget plan rather than wants.
Which is considered as wants only?
D.​