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Financial Literacy Extravaganza Flashcards | StudBud
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Financial Literacy Extravaganza
Financial Literacy Extravaganza
13 terms
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StudBud Administration
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Flashcards
13 cards
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Questions
13
Answers
1
Luke received $500 from his papa. This is income.
False
True
2
Trading for something without using money is called BARTER
True
False
3
The provincial government collects
income
tax when you
pay
for goods and services
False
True
4
What card do people use to buy for things now and pay for them later?
Library card
Gift card
Credit card
Debit card
5
An E-Transfer is when a person sends money from their account to another person's account
True
False
6
What does it mean for a person to invest their money?
Exchanging money with another person.
Putting money into a bank account.
Having a job.
Using money they have to make MORE money.
7
What is a budget?
A plan to send money to someone using an e-transfer
A plan on how to make and spend money.
Lots of money
A boss
8
If you buy something at a yard sale (garage sale) you will need to have this..
Credit card
Cash
Debit card
A bag to carry it in
9
A
gift card
allows a person to take money out from a bank machine.
True
False
10
A new toy costs $10. How much total tax would be charged on it.
$1.30
$0.50
$!.00
15%
11
A savings account is one way you might be able to earn interest on money you have.
True
False
12
What does financial mean?
Being able to buy things when you want
Anything having to do with money
Having to do with adult issues
Thinking about a budget
13
Finn borrowed $20 and has to pay it back in a week. How can you describe his situation?
He invested $20
He owes 13% tax on $20.
He has a debt of $20.
He earned $20
