SNSharon Nekesa
Started onTuesday, 3 June 2025, 3:32 PM
StateFinished
Completed onTuesday, 3 June 2025, 3:34 PM
Time taken2 mins 20 secs
Marks5.00/5.00
Grade10.00 out of 10.00 (100%)

Question 1

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Question text

Taxes refers to the money that you

Question 1 Answer
a.

Pay to the government to meet the cost of public services

b.

Pays for job or business related expenses

c.

Pay for utilities like electricity internet water and security among others

d.

Invest in mutual funds or stops through an investment company

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Step Time Action State Marks
1 3/06/25, 15:32:24 Started Not yet answered
2 3/06/25, 15:33:32 Saved: Pay to the government to meet the cost of public services Answer saved
3 3/06/25, 15:34:44 Attempt finished Correct 1.00

Question 2

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Question text

Some of the components of an individual's personal budget include

Question 2 Answer
a.

Payment of bills, utilities, leisure activities, investments, savings, gifts and repayment of debts

b.
Body-image, identity, self-esteem and personality

 

c.

Social, financial, emotional, intellectual and physical

d.

Source, receiver, channel, feedback and message

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Response history

Step Time Action State Marks
1 3/06/25, 15:32:24 Started Not yet answered
2 3/06/25, 15:33:32 Saved: Payment of bills, utilities, leisure activities, investments, savings, gifts and repayment of debts Answer saved
3 3/06/25, 15:34:44 Attempt finished Correct 1.00

Question 3

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Question text

Financial literacy is important because it

Question 3 Answer
a.

Is only meant for those who operate their own businesses

b.

Is only useful to those employed in an huge amounts of money

c.

Helps you learn how to manage your time and finances well

d.

Equips you with skills to budget, save and invest your money

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Response history

Step Time Action State Marks
1 3/06/25, 15:32:24 Started Not yet answered
2 3/06/25, 15:33:32 Saved: Equips you with skills to budget, save and invest your money Answer saved
3 3/06/25, 15:34:44 Attempt finished Correct 1.00

Question 4

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Question text

Components of financial literacy include the following

Question 4 Answer
a.

Time, saving and self-awareness

b.

Employment, health and business

c.

Budgeting, saving, investing, earning and debt repayment

d.

Owning, saving and leisure

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Response history

Step Time Action State Marks
1 3/06/25, 15:32:24 Started Not yet answered
2 3/06/25, 15:34:29 Saved: Budgeting, saving, investing, earning and debt repayment Answer saved
3 3/06/25, 15:34:44 Attempt finished Correct 1.00

Question 5

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Question text

Record-keeping for businesses is very important and the components include

Question 5 Answer
a.

Job descriptions for staff and service contracts

b.

Cash sale receipts, invoices, purchase records and bank statements

c.

Bank statements, wellness wheel and strategic plans for the business

d.

Personal development plans and personality result reports

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Response history

Step Time Action State Marks
1 3/06/25, 15:32:24 Started Not yet answered
2 3/06/25, 15:34:29 Saved: Cash sale receipts, invoices, purchase records and bank statements Answer saved
3 3/06/25, 15:34:44 Attempt finished Correct 1.00
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