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PF 2.04 Income and Expanse Flashcards | StudBud
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PF 2.04 Income and Expanse
PF 2.04 Income and Expanse
10 terms
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Vocabulary words - expense, income, net loss, net gain, mortgage, liability, asset
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Susan earns $500 every week. Although she only takes home $400, the $500 is her ......?
net pay
unearned income
gross pay
assets
2
Adam owes $1,700 in income taxes. This is ....?
liability
net gain
asset
net loss
3
John paid $189.00 for his new shoes. This is ......?
net loss
expense
income
net gain
4
Mark owes $150,000 on his house. He has ........?
a net loss
a mortgage
an insurance policy
a net gain
5
Jen earns $2000 every month. She spends $1800. What is she experiencing?
net loss
assets
net gain
liability
6
Marie's grandmother gave her a $50.00 gift card to Amazon.com for her birthday. This is....?
expense
net gain
net loss
income
7
Bill owns two houses, five horses, and two cars. These are ....?
net gain
assets
liabilities
net loss
8
Smity earns $400 every week, but only takes home $300. The smaller amount is his ......?
taxable income
net pay
gross pay
insurance payment
9
Matt paid off his car. It is worth $5,000. This is . . . .?
liability
net gain
net loss
asset
10
Samantha owes for her car, furniture, and her house. These are ..........?
liabilities
net gains
net losses
assets
