Financial Management and Planning — Practice Quiz
CBSE · Class 11 · Home Science
Try a 4-question quiz on Financial Management and Planning for CBSE Class 11 Home Science: tap an answer to check it and see why.
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Quick Quiz: Financial Management and Planning
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What is financial management in a family setting?
Which one is a purpose of financial planning?
What is real income?
Which type of real income includes cooking done by family members?
Sample Questions
Which one is an example of indirect income?
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Buying good quality vegetables with money
Indirect income includes material goods and services available only after some means of exchange, usually money, has been obtained.
What is psychic income?
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The satisfaction from ownership and use of goods and services
Psychic income is the satisfaction that comes from ownership and utilisation of goods and services.
Which two are the most important functions of money?
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Medium of exchange, Measurement of value
Money mainly serves as a medium of exchange and as a measure of value.
What is the correct definition of money?
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Anything which is generally acceptable in exchange of commodities and in terms of which the value of other commodities is determined
Money is defined as anything generally acceptable in exchange of commodities and used to determine the value of other commodities.
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Sources & Official References
- NCERT Official — ncert.nic.in
- CBSE Academic — cbseacademic.nic.in
- CBSE Official — cbse.gov.in
- National Education Policy 2020 — education.gov.in
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
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