Personal Financial Literacy

Question 1

Marc earns $300 dollars a week. He pays $50 in taxes. How would you find his net income

Accepted Answer

Subtract his taxes from his gross income

Question 2

True or False: Taxes are optional

Accepted Answer

False

Question 3

Martha's income this month is less than her expenses, what should she do?

Accepted Answer

Decrease expenses, increase income

Question 4

Sara is buying a new car, what tax is she going to pay?

Accepted Answer

Sales tax

Question 5

Ms. O'Connor lives in an apartment. What tax doesn't she pay?

Accepted Answer

Property

Question 6

Max pays a tax every year because he owns a house. What type of tax is this?

Accepted Answer

Property

Question 7

What is the name of the income that you are paid AFTER taxes and deductions are taken out?

Accepted Answer

Net

Question 8

Sandra's family is buying a new car, what type of tax are they going to pay?

Accepted Answer

Sales

Question 9

What is a debit card?

Accepted Answer

A card connected to your bank account-takes out money.

Question 10

Which statement is true about credit cards

Accepted Answer

Cards with borrowed money that you pay back with interest.

Question 11

What is the money you make before taxes are taken out?

Accepted Answer

gross

Questions 11