Question 1
Which of the following is classified as a fixed personal expense in a monthly household cash budget?
Correct Answer:
Monthly residential rent payment
Question 2
A retail product in New Zealand has a GST-exclusive price of $200. With Goods and Services Tax (GST) set at 15%, what is the final GST-inclusive selling price?
Correct Answer:
$$230.00
Question 3
If a customer pays $115 (GST inclusive) for a jacket in Auckland, how much GST is included in that price?
Correct Answer:
$$15.00
Question 4
What is the primary purpose of preparing a Personal Cash Budget?
Correct Answer:
To plan future cash inflows and outflows to ensure financial viability and avoid deficits
Question 5
A student earns $120 per week from a part-time job and receives $30 allowance. They spend $50 on transport, $40 on food, and $20 on entertainment. What is their weekly budget surplus?
Correct Answer:
$$40.00
Question 1
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About this Exam

Prepare with the NCEA L1 Commerce Practice Questions - NCEA Level 1 Commerce - New Zealand Exam practice quiz. This question bank includes 100 questions covering price, business, financial, market, and owner. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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NCEA L1 Commerce Practice Questions - NCEA Level 1 Commerce - New Zealand Exam

This practice set contains 100 questions from the matching question bank and focuses on price, business, financial, market, and owner. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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