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5th Grade Financial Literacy Flashcards | StudBud
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5th Grade Financial Literacy
5th Grade Financial Literacy
12 terms
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StudBud Administration
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A review of taxes, budgets, and incomes.
Flashcards
12 cards
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Practice quiz
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Questions
12
Answers
1
The total income before any taxes are taken out is _______ ________.
Sales Tax
Net Income
Expenses
Gross Income
2
_________ is the income that is left after taxes.
Payroll tax
Sales Tax
Gross income
Net income
3
___________ is money that is paid based on the amount of money you earn.
Property tax
Gross Income
Net Income
Income Tax
4
On a balanced budget, which is true?
You spend less than you make
You spend more than you make
5
A ___ is money paid to the government for services, like road work and police protection.
Income
Budget
Tax
6
Auriana is earned $165. She spent $45. How much can buy a dog for to have a balanced budget?
$125
$115
$165
$15
7
______ are taxes paid to the government depending on the value of your home, land, or vehicles.
Net Income
Income Taxes
Property Taxes
Gross income
8
The total tax an employer withholds from a paycheck is called ________.
Net income
Property Tax
Sales Tax
Payroll Tax
9
A ________ is money added to the cost of items or services.
Sales Tax
Income Tax
Net Income
Budget
10
What is income?
How much you pay in taxes
Taxes you pay
How much money you earn
11
Alvaughn's gross income this was $4000. His net income was $3200. His deductions were...
$800
$700
$340
$900
12
Aniya earns $20 and hour working at Six Flags. How much money did she earn working 20 hours?
$300
$400.00
$20
$400
