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Chapters
▶ 1: Budgeting and Savings
2: Space Organisation in the Kitchen
3: Home Furnishings
UNIT 2: GROWTH AND DEVELOPMENT DURING MIDDLE CHILDHOOD
4: Milestones of Development
5: Role of Family, Peer Group and School
6: Learning Disabilities in Children
UNIT 3: MEAL PLANNING
7: Balanced Diet
8: Meal Planning for the Family
9: Storage and Preservation of Food
UNIT 4: SELECTION AND CARE OF TEXTILE AND CLOTHING
10: Selection of Fabrics
11: Selection of Readymade Garments
12: Laundering
13: Laundry Material
UNIT 5: COMMUNICATION AND EXTENSION
14: Social and Economic Issues in India
15: Role of Government Towards A Developed India
16: Communication Aids
![Dr. Alka Agarwal, Urvi Raval solutions for होम सायन्स [इंग्रजी] इयत्ता १० आईसीएसई chapter 1 - Budgeting and Savings - Shaalaa.com](/images/home-science-english-class-10-icse_6:47f2a0e2bbf14b0390712d5a5fb6e473.jpg "Dr. Alka Agarwal, Urvi Raval solutions for होम सायन्स [इंग्रजी] इयत्ता १० आईसीएसई chapter 1 - Budgeting and Savings")
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Solutions for Chapter 1: Budgeting and Savings
Below listed, you can find solutions for Chapter 1 of CISCE Dr. Alka Agarwal for होम सायन्स [इंग्रजी] इयत्ता १० आईसीएसई.
Dr. Alka Agarwal, Urvi Raval solutions for होम सायन्स [इंग्रजी] इयत्ता १० आईसीएसई 1 Budgeting and Savings EXERCISES [Pages 18 - 21]
OBJECTIVE QUESTIONS Choose the correct option:
Budgeting is the first step in ______.
Budgeting
Money management
Expenditure
Family size
‘The number of members in the family, along with the earning members, affects the family budget’. This statement is related to the factor ______.
Availability of money
Socio-Economic Status
Composition of the family
Family Life Cycle
Which of the following is/are step(s) for planning a realistic budget?
Estimating the cost of desired items
Bringing expected income and expenditures into balance
Estimating the cost of desired items
All the above
A type of budget where expenditure exceeds income.
Balanced
Surplus
Deficit
Excess
Fill in the blanks
The income of a family from different sources can be listed under ______ and ______ headings.
______ is the process of putting surplus funds in some productive activity with the expectation of reasonable return.
______ is for protecting a person or his family against the loss of income because of the death of the insured.
State True or False:
Savings can become a source of income.
State True or False:
PPF is a short-term investment option backed by the Government of India.
State True or False:
A family’s socio-economic status is directly related to the standard of living.
Choose the Odd-One-Out.
Compulsory savings includes
- Gratuity
- Provident fund
- Post Office
- Pension Scheme
Choose the Odd-One-Out:
The different types of budgets are
- Realistic budget
- Surplus budget
- Balanced budget
- Deficit budget
Choose the Odd-One-Out:
A wise guide to have an overall view of family income and expenses:
- Insurance Policy
- Budgeting
- Bank Account
- Saving
Identify the given pictures.
 |
Name the company by identifying the logo.
Unit Trust of India
SBI Bank
LIC
None of the above
Identify the given pictures.
 |
What is the answer to the equation given in the picture?
Budget
Consumption Saving
Insurance
Expenditure
Identify the given pictures.
 |
How does the money grow in the given picture?
Investment
Post Office
Budgeting
Gratuity
Identify the correct statement:
Assertion (A): Surplus budget is when income is more than the expenditure.
Reason (R): The family has some extra money to save.
A is true but R is false.
A is false but R is true.
Both A and R are true and R is the correct explanation of A.
Both A and R are true and R is not the correct explanation of A.
Assertion (A): A budget allows us to foresee if we have enough money to fulfil our needs.
Reason (R): Budget acts as an intelligent guide to spending.
A is true but R is false.
A is false but R is true.
Both A and R are true and R is the correct explanation of A.
Both A and R are true and R is not the correct explanation of A.
Assertion (A): Investment helps in saving for a family.
Reason (R): Surplus funds have assured returns.
A is true but R is false.
A is false but R is true.
Both A and R are true and R is the correct explanation of A.
Both A and R are true and R is not the correct explanation of A.
Choose the correct pair:
Kisan Vikas Patra - Bank
Compulsory Saving - Provident Fund
Mutual Funds - Post Office
Unit Trust of India - Compulsory Saving
Choose the correct pair:
Budget – extravagant expenditure
Income - a kind of debt
Savings - income that is not spent
Investment - increased expenditure
Select the incorrect pair:
Housing - loan or rent
Clothing - cleaning and repairing
Medical Allowances - electricity and water
Miscellaneous - education and taxes
Select the incorrect pair:
Income = Saving + Expense
Expenditure = Savings - Budget
Savings = Income - Expenditure
Investment = Saving
Choose the correct statement:
Statement I: Saving a portion of the family income for emergencies is an essential part of a family budget.
Statement II: A family budget should be rigid and not allow any adjustments once it is set.
Statement I is true and Statement II is false.
Statement I is false and Statement II is true.
Both Statements I and II are true.
Both Statements I and II are false.
Statement I: Judicious utilization of resources means using them in a way that meets current needs without compromising the ability of future generations to meet their own needs.
Statement II: Overexploitation of resources is a good practice because it maximizes immediate economic benefits.
Statement I is true and Statement II is false.
Statement I is false and Statement II is true.
Both Statements I and II are true.
Both Statements I and II are false.
Choose the correct pair:
| A. | Salary | 1. | Rent/Mortgage |
| B. | Investment returns | 2. | Groceries |
| C. | Taking tuition at home | 3. | Child’s education fees |
| D. | Government benefits | 4. | Medical expenses |
A - 1, B - 2, C - 3, D - 4
A - 3, B - 1, C - 4, D - 2
A - 1, B - 4, C - 2, D - 3
A - 2, B - 3, C - 1, D - 4
Choose the correct pair:
| A. | Emergency fund | 1. | Financial security during crises |
| B. | Retirement planning | 2. | Comfortable life in old age |
| C. | Education expenses | 3. | Investing in future knowledge/skills |
| D. | Vacation fund | 4. | Enjoyment and relaxation |
A - 1, B - 2, C - 3, D - 4
A - 3, B - 1, C - 4, D - 2
A - 2, B - 4, C - 1, D - 3
A - 4, B - 3, C - 1, D - 2
SHORT QUESTIONS
Name any two types of family budgets.
Name two agencies which help in voluntary saving.
Mention any two factors that affect the family budget.
What is the difference between assured income and possible income?
List any two importance of making a family budget.
Name two schemes introduced to encourage compulsory savings.
Explain any five reasons in planning an effective family budget.
Classify family income into two categories.
Define the term ‘investment’.
LONG QUESTIONS
Explain any five reasons in planning an effective family budget.
Explain any five steps of making a budget.
Explain the importance of saving.
Mention any two factors that affect the family budget.
State two reasons for saving.
List the various schemes available for investment purpose by a family.
Insurance is a kind of protection against financial losses. The Life Insurance Corporation of India (LIC) mainly looks after the insurance of a person’s life. It also has policies like new children’s money back policy, health plans and pension plans.
In this context, answer the following question:
What is a policy?
Insurance is a kind of protection against financial losses. The Life Insurance Corporation of India (LIC) mainly looks after the insurance of a person’s life. It also has policies like new children’s money back policy, health plans and pension plans.
In this context, answer the following question:
Name any two types of LIC policies.
Insurance is a kind of protection against financial losses. The Life Insurance Corporation of India (LIC) mainly looks after the insurance of a person’s life. It also has policies like new children’s money back policy, health plans and pension plans.
In this context, answer the following question:
What is the difference between ‘insured’ and ‘insurer’?
Diwali is a festival in which a family can expect many guests in home. The family has to face many calculated and uncalculated expenses during the festival time. Inflation has led to price-rise in commodities.
In this context, answer the following question:
List any two importance of savings.
Diwali is a festival in which a family can expect many guests in home. The family has to face many calculated and uncalculated expenses during the festival time. Inflation has led to price-rise in commodities.
In this context, answer the following question:
Name two types of saving agencies.
Diwali is a festival in which a family can expect many guests in home. The family has to face many calculated and uncalculated expenses during the festival time. Inflation has led to price-rise in commodities.
In this context, answer the following question:
Define the term saving in terms of realistic plan.
Explain any five benefits of making a budget.
Solutions for 1: Budgeting and Savings
Dr. Alka Agarwal solutions for होम सायन्स [इंग्रजी] इयत्ता १० आईसीएसई chapter 1 - Budgeting and Savings
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Concepts covered in होम सायन्स [इंग्रजी] इयत्ता १० आईसीएसई chapter 1 Budgeting and Savings are Management of Household Finances: Budgeting and Saving, Budgeting, Factors Affecting Family Budget, Steps in Preparing Budget, Judicious Utilization of Availabl-e Resources, Concept of Saving.
Using Dr. Alka Agarwal होम सायन्स [इंग्रजी] इयत्ता १० आईसीएसई solutions Budgeting and Savings exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in Dr. Alka Agarwal Solutions are essential questions that can be asked in the final exam. Maximum CISCE होम सायन्स [इंग्रजी] इयत्ता १० आईसीएसई students prefer Dr. Alka Agarwal Textbook Solutions to score more in exams.
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