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Financial Literacy (Profit) Flashcards | StudBud
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Financial Literacy (Profit)
Financial Literacy (Profit)
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Questions
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Answers
1
Lucy sells bracelets for $30. She spends $10 on string and $5 on beads. What's her profit?
$15
$25
$10
$45
2
What is profit?
The total amount earned
The cost of supplies
Money spent on a business
Money left after expenses are subtracted from income
3
If a business spends more than it earns, it has...
A discount
A loss
Profit
A sale
4
Sarah earns $100. She spends $25 on supplies and $10 on advertising. What is her profit?
$75
$35
$90
$65
5
Jake spends $8 on materials and sells his product for $12. What is his profit?
$12
$4
$20
$8
6
Which of the following is an example of income?
Buying snacks
Spending money on toys
Paying rent
Earning money from a job
7
Which of these is considered an
expense
?
Money made from selling cookies
Money spent on cookie ingredients
Money saved in a bank
Money given as a gift
8
David earns $50 from mowing lawns. He spent $20 on gas and tools. What is his profit?
$30
$50
$70
$20
9
Emma sells lemonade for $10 and spends $4 on supplies. What is her profit?
$4
$10
$6
$14
10
Which of these shows how to calculate profit?
Income × Expenses
Income – Expenses
Income + Expenses
Income ÷ Expenses
