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Unit 3 Financial Literacy Review Flashcards | StudBud
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Unit 3 Financial Literacy Review
Unit 3 Financial Literacy Review
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Flashcards
9 cards
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Questions
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Answers
1
How do I find gross income?
Net income - deductions
Net income + deductions
2
When I get my paycheck, this tax is taken every time I get payed. What is this tax?
property tax
Payroll tax
Not here
Sales tax
3
I have $20 dollars for the week, but I want to go to see the football game. What should I do?
Just never go to the hockey game.
Borrow money from friend and never pay them back.
Spend less money on entertainment, and save up for the game.
4
This tax is collected by the federal government when someone works a job.
Income Tax
Property Tax
Payroll tax
Sales Tax
5
I decided to take a new job, but I am paying a lot more taxes on my paycheck. Why?
I picked the wrong job.
I make a lot more money on my job, so I pay more taxes.
I am just unlucky.
6
What is an expense?
Amount of money you spend
Amount of money you save
7
My bank balance for the month is $-50, what should I do in the future?
Ask money from parents....right?
Watch my expenses so next time I will have more money!
Apply for a bank loan.
Waste all my savings.
8
I bought a new car! However, what kind of TAX is this?
payroll tax
property tax
income tax
Sales tax
9
What is something really nice about a debit and credit card?
No limits on purchases
Identity theft
accepted just about anywhere!
Interest fee
