SGSolomon Githu
Started onFriday, 17 January 2025, 11:26 AM
StateFinished
Completed onFriday, 17 January 2025, 11:28 AM
Time taken1 min 19 secs
Marks4.00/5.00
Grade8.00 out of 10.00 (80%)

Question 1

Incorrect
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Question text

Taxes refers to the money that you

Question 1 Answer
a.

Pays for job or business related expenses

b.

Pay to the government to meet the cost of public services

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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Response history

Step Time Action State Marks
1 17/01/25, 11:26:54 Started Not yet answered
2 17/01/25, 11:27:38 Saved: Pays for job or business related expenses Answer saved
3 17/01/25, 11:28:13 Attempt finished Incorrect 0.00

Question 2

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Question text

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

Question 2 Answer
a.
Body-image, identity, self-esteem and personality

 

b.

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

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 17/01/25, 11:26:54 Started Not yet answered
2 17/01/25, 11:27:38 Saved: Payment of bills, utilities, leisure activities, investments, savings, gifts and repayment of debts Answer saved
3 17/01/25, 11:28:13 Attempt finished Correct 1.00

Question 3

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Question text

Financial literacy is important because it

Question 3 Answer
a.

Helps you learn how to manage your time and finances well

b.

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

c.

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

d.

Is only meant for those who operate their own businesses

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Response history

Step Time Action State Marks
1 17/01/25, 11:26:54 Started Not yet answered
2 17/01/25, 11:27:38 Saved: Equips you with skills to budget, save and invest your money Answer saved
3 17/01/25, 11:28:13 Attempt finished Correct 1.00

Question 4

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Question text

Components of financial literacy include the following

Question 4 Answer
a.

Budgeting, saving, investing, earning and debt repayment

b.

Employment, health and business

c.

Owning, saving and leisure

d.

Time, saving and self-awareness

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Response history

Step Time Action State Marks
1 17/01/25, 11:26:54 Started Not yet answered
2 17/01/25, 11:28:10 Saved: Budgeting, saving, investing, earning and debt repayment Answer saved
3 17/01/25, 11:28:13 Attempt finished Correct 1.00

Question 5

Correct
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Question text

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

Question 5 Answer
a.

Personal development plans and personality result reports

b.

Cash sale receipts, invoices, purchase records and bank statements

c.

Bank statements, wellness wheel and strategic plans for the business

d.

Job descriptions for staff and service contracts

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Response history

Step Time Action State Marks
1 17/01/25, 11:26:54 Started Not yet answered
2 17/01/25, 11:28:10 Saved: Cash sale receipts, invoices, purchase records and bank statements Answer saved
3 17/01/25, 11:28:13 Attempt finished Correct 1.00
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