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Duplicate of Financial Literacy STAAR Review 5th Grade Flashcards | StudBud
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Duplicate of Financial Literacy STAAR Review 5th Grade
Duplicate of Financial Literacy STAAR Review 5th Grade
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#math #staar #5thgrade #financialliteracy
Flashcards
23 cards
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Questions
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Answers
1
A tax paid on something you own such as a house, land, or building.
Sales tax
Payroll tax
Property tax
Income tax
2
A tax paid on money earned from a job.
Income tax
Property tax
Payroll tax
Sales tax
3
The total amount of money a person earns from working.
Payroll tax
Income tax
Gross income
Net income
4
The amount of money a person gets paid in their paycheck.
Gross income
Income tax
Payroll tax
Net income
5
I have to buy 2 boxes of lights. They were $1.50 each and they are on sale for $1 each. How much money did I save?
$3
$1
$0.50
$4
6
A tax that an employer or company withholds from its employees' paychecks.
Income tax
Payroll tax
Property tax
Sales tax
7
Your expenses are greater than your income. What should you do?
Decrease expenses and increase income
Increase expenses and increase income
Increase expenses and decrease income
Decrease expenses and decrease income
8
If you were planning your MONTHLY budget, which of the following should you use?
Net annually
Gross annually
Gross monthly
Net monthly
9
Which of the following is NOT a payment method?
Credit card
Check
Debit card
Note card
10
This is GREATER than net income.
Gross income
Payroll tax
Net income
Income tax
11
To balance a budget, expenses = income
True
False
12
You make your monthly budget based on your GROSS income.
True
False
13
The amount before the taxes have been withheld.
Income tax
Gross income
Payroll tax
Net income
14
Which is not true about a credit card?
It can cause you to go into debt.
It is a like a loan.
It is easy to use.
You do not have to pay any additional money.
15
This is the amount after the taxes have been withheld.
Net income
Income tax
Payroll tax
Gross income
16
If you knew your GROSS annual income, how would you find your GROSS monthly income?
Net annual x 12
Net x income
Gross annual x 12
Gross annual divided by 12
17
This is how much I spent on my car. 400[60 x (2 + 0.1)] How much do I spend?
$100,400
$50,400
$32,500
$1000
18
I went to HEB and bought a book for $5.25 and a pen for $1.75. I paid with a $10 bill. How much change did I get back?
none
$10
$2
$3
19
Which of the following is NOT a payment method?
Bank statement
Check
Electronic payment
Credit card
20
Which of the following is NOT a payment method?
Credit card
Debit Card
electronic payment
Paycheck
21
This is LESS than the gross income.
Gross income
Income tax
Payroll tax
Net income
22
A tax paid for a good or service that you buy.
Sales tax
Payroll tax
Property tax
Income tax
23
Mr. Herzog is buying a bird feeder that costs $225. If he saves $25 dollars every month, how many months will it take?
$225 x m = $25
$25 x m = $225
$25 divided by m = $225
$25 x $225 = m
