Mathematics for Business and Personal Finance

Chapter 3: Recordkeeping

Practice Tests

1
Find the McConnell's average monthly expenditure.

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A)$26,016
B)$8,672
C)$2,218
D)$2,168
2
Find the Houston's average monthly expenditure.

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A)$3,891.00
B)$2,918.25
C)$2,334.60
D)$2,120.00
3
The Landry'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)$2,657.59
D)$8,026.78
4
The recent electric bills for the Rafael family were as follows: August, $187.55; September, $197.34; October, $200.44; and November, $256.88. Find the average monthly expenditure.
A)$842.21
B)$210.55
C)$195.11
D)$168.44
5
The Hutton's records for the past six months show that their expenditures totaled $2,768, $3,001, $2,663, $2,471, $2,893, 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
6
ALGEBRA Newton Ivo had a $325.16 average monthly expenditure for groceries during the first quarter of this year. He spent $312.90 in April and $364.30 in May. How much can Newton spend in June to have the same average as in the first quarter?
A)$338.60
B)$334.12
C)$298.28
D)$290.15
7
ALGEBRA Estelle Auring had a $152.18 average monthly expenditure for clothing during the second quarter of this year. She spent $175.20 in July and $75.64 in August. How much can Estelle spend in September to have the same average as in the second quarter?
A)$125.42
B)$134.34
C)$185.25
D)$205.70
8
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 fixed monthly 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
9
Use the partial budget sheet shown below to determine the Klines' total monthly fixed expenses.

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A)$1,835.00
B)$1,685.00
C)$1,535.00
D)$458.75
10
Use the partial budget sheet shown below to determine the Oscars' monthly share of their annual expenses.

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A)$4,791.75
B)$410.25
C)$399.31
D)$228.19
11
How much should Martha Walters budget monthly for an annual expenditure that costs $812.54?
A)$77.24
B)$67.71
C)$62.54
D)$61.18
12
If Peter Alewife's average monthly expenditure for 4 months is $1,230.25, what is the total of his expenditures for that period?
A)$4,921.00
B)$4,845.21
C)$3,690.75
D)$307.56
13
The Chins used records of their past expenditures to complete their budget sheet for the upcoming new year. If their average monthly living expenses are $848, their fixed monthly expenses averaged $1,305, and their annual expenses are $3,816, what amount should they expect to spend monthly?
A)$318.00
B)$497.20
C)$2,471.00
D)$5,969.00
14
The Silversteins used records of their past expenditures to complete their budget sheet for the upcoming new year. If their average monthly living expenses are $912, their fixed monthly expenses averaged $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
15
The LaBelles 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 less
B)$8.75 more
C)$11.25 less
D)$11.25 more
16
The Mannings 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 less
B)$22.75 more
C)$45.50 less
D)$45.50 more
17
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 utilities than they had budgeted for?
A)$4.75 less
B)$4.75 more
C)$5.25 less
D)$5.25 more
18
Use the table below. How much more or less was spent on food in April?

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A)$20.00 more
B)$20.00 less
C)$10.00 more
D)$10.00 less
19
How much over budget would Ursula Zuman be if she spends $546.90 for something that she had budgeted at $490.20?
A)$146.70
B)$78.77
C)$56.70
D)$28.35
20
Use the table below. How much more or less was spent on utilities in May?

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A)$13.94 more
B)$13.94 less
C)$23.15 more
D)$23.15 less
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