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data analysis and personal financial literacy Flashcards | StudBud

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data analysis and personal financial literacy

10 terms·StudBud Administration·375 plays

a #math quiz for #5thgrade reviewing #dataanalysis and #personalfinancialliteracy

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Questions 10

Answers

1
which of the following expressions best represents a balanced budget?
Income > expenses
income < expenses
income = expenses
income = expenses
2
Gross income is money paid to the employee--
After any deductions are subtracted
After any deductions are added
Before any deductions are subtracted
Before any deductions are added
3
which of the following would help this person balance their budget?
reduce rent by $75
reduce misc. by $75
reduce phone by $100
reduce rent by $100
4
A book costs $7.50. You have exactly $7.50. Why could you buy or not buy the book?
you could because texas has no sales tax
you could not because you must pay sales tax
you could not because you must pay property tax
you could because texas has no state income tax
5
The Internal Revenue Service (IRS) collects which two types of taxes?
Income and payroll
Income and property
Payroll and Sales
Property and sales
6
define income tax
tax paid by the employee and employer
tax paid by the employer
tax paid by the employee
none of the above
7
Mrs. Douglas is charged a tax on the value of the items she buys. What is this tax called?
Income tax
Sales tax
Payroll tax
Property tax
8
All of the following are common deductions from gross income except-
mortgage interest
retirement plan contributions
health insurance premiums
payroll taxes
9
which of the following is an example of a fixed expense?
rent
food
entertainment
utilities
10
each of the following strategies will help you balance a budget except--
decreasing expenses
decreasing income
increasing income and decreasing expenses
increasing incom