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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Fifth grade TEKS financial literacy questions
Flashcards
20 cards
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Questions
20
Answers
1
Paying unnecessary fees, for using a debit card, are like throwing money away.
True
False
2
An expense that changes from month to month is called a ______.
unfair expense
paycheck
variable expense
bill
3
If a payment has to be mailed, sending a check is safer than cash.
True
False
4
Money paid for bills from month to month is called an ________.
earned income
expense
extra money
income
5
Income tax is due ______________
July 4
April 15
January 1
April 1
6
Money charged by a bank for not paying your credit card balance is called _____
taxes
interest
earned income
a bad idea
7
Money paid to the government based on your income ___________
property tax
income tax
sales tax
your allowance
8
An expense that is the same from month to month is called a ________.
fixed expense
allowance
income
paycheck
9
Property tax is tax on _____________
your pets
your sister
paychecks
your land and home
10
Which tax is deducted from your paycheck?
Social Security tax
Medicare tax
All of the above
income tax
11
How much money an individual makes before taxes are taken out is called ________
allowance
gross income
property tax
net income
12
Money to pay taxes comes from _____________.
earned income
your mom and dad
payroll taxes
income tax
13
What is the best method of payment in an emergency?
run away
cash
debit card
credit card
14
The amount an employee actually receives ________
babysitting money
gross pay
net allowance
net income
15
Something that is NOT taxable is called ___________________
payroll tax
gross pay
tax exempt
cheap
16
Property taxes cannot increase or decrease.
False
True
17
Money received for doing a job or profit earned from a business _________
taxes
income
expenses
change
18
Writing a check when there is not enough money in your account is called writing a _.
fake check
hot check
hot pancake
stealing
19
Sales tax is tax on ____________
medical bills
land
houses
goods and services
20
A plan for income and expenses is called a _________________
an idea
payroll tax
budget
earned income