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Financial Literacy - Banking 1 Flashcards | StudBud
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Financial Literacy - Banking 1
Financial Literacy - Banking 1
10 terms
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A #financialliteracy quiz over savings accounts, checking accounts, credit cards, and taxes.
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Percentage you are paid for your money, or percentage you pay for borrowing money.
Deposit
Statement Balance
Interest Rate
Account Balance
2
Government agency that collects taxes.
Central Intelligence Agency
US Treasury
Internal Revenue Service
Federal Collections Bureau
3
Having a negative balance in your account
Debit
Charge
Check
Overdrawn
4
Tax imposed by many states, counties and cities on purchases
Payroll Tax
Sales Tax
Property Tax
Excise Tax
5
Card issued by a bank, retail store or business allowing holder to purchase things on credit
Debit Card
Finance Charge
Credit Card
Check
6
You put $100 in an account that pays 5%annual interest, what is the balance after 1 year?
$150
$125
$500
$105
7
Putting money in to your savings account.
Debit
Check
Deposit
Credit
8
The process of setting money aside until a future date instead of spending it today.
Investing
Saving
Interest
Deposit
9
Amount subtracted from taxable income.
Payroll Tax
Deduction
Exemption
Refund
10
A check or automatic deposit for the amount by which taxes were overpaid
Refund
Electronic Funds Transfer
Social Security
Payroll
