In the NCERT curriculum for Class 9, the concept of expenses is usually discussed under the chapter on accounting principles or financial statements. This guide will help to understand the NCERT-defined concept of expenses, examples, and solved exercises to make learning easier.
What is Expenses Class 9 NCERT Solutions
I. Choose the correct answer.
Q. The money you spend on your needs and wants may be termed as _.
a) budgets
b) incomes
c) expenses
Q. A set amount or exact amount which is incurred every time, not depending on the usage or consumption, is called _.
a) Fixed expenses
b) Variable expenses
c) Cash management
Q. In a budget table, under fixed expenses, __ should be the first item, which will help us to save money.
a) Paying loans
b) Paying rent
c) Pay yourself first
Q. Payment of the gas bill based on the usage is an example of __.
a) Fixed expenses
b) Variable expenses
c) Income-generating expenses
Q. __ is extremely important to meet our goals.
a) Saving
b) Expense
c) Loan repayment
II. Fill in the blanks.
Q. Expenses can be classified into two categories, namely ___ and ___.
Q. ___ helps us to use our money for our needs and wants and achieve our goals.
Show Answer тЯ╢Q. A budget has two main parts, namely ___ and ___.
Show Answer тЯ╢Q. ___ is a simple trick to grow our money and become wealthy.
Show Answer тЯ╢Q. ___ minus ___ is known as money left over for future needs.
Show Answer тЯ╢III. Match the following.
- Expenses тАУ Setting aside money
- Fixed expenses тАУ handling money coming in and going out
- Variable expenses тАУ no change in total amount
- Cash management тАУ money going out
- Savings тАУ change in amount
Correct Order
- Expenses тАУ money going out
- Fixed expenses тАУ no change in total amount
- Variable expenses тАУ change in amount
- Cash management тАУ handling money coming in and going out
- Savings тАУ Setting aside money
IV. True or false.
Q. Variable expenses can change due to some reasons, like usage, consumption, etc.
Show Answer тЯ╢Q. Budgeting is one of the best tools to manage our money.
Show Answer тЯ╢Q. тАШPay yourself firstтАЩ means spending money for our present needs.
Show Answer тЯ╢Q. The more we save, the more money we have to meet our goals in life.
Show Answer тЯ╢Q. Cash management is the handling of тАШmoney coming inтАЩ only.
Show Answer тЯ╢V. Answer the following briefly.
Q. What do you mean by expenses?
Answer: The money you spend on your needs and wants may be termed as money going out or otherwise called expenses.
Q. Write a short note on fixed expenses.
Answer: Fixed expenses have set amounts and are the exact amount incurred every time, not depending on usage or consumption. Fixed expenses will not change due to any reason. For example, house rent, mobile recharge, etc.
Q. What is meant by variable expenses? Give an example.
Answer: Variable expenses can change due to some reasons like usage, consumption, etc., which means you usually have more control over them. For example, electricity bills, hotel charges, etc.
Q. What is a budget?
Answer: A budget is a statement indicating income on one hand and how the income is allocated to various fixed and variable expenses. It indicates the тАШmoney coming inтАЩ and the тАШmoney going outтАЩ in detail so that you are aware of how your income is being spent and how you may control your expenses if needed.
VI. Answer in detail.
Q. Describe cash management and draw a budget table for a monthтАЩs household income and expenditure.
Answer: Cash management is how you handle money coming in and money going out. Sometimes itтАЩs referred to as тАШcash flowтАЩ. As you might expect, there are some tools available to help you manage your money (cash). One of the best tools is a budget.
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