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Money Doesn't Just Grow on Trees Post-Test Flashcards | StudBud
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Money Doesn't Just Grow on Trees Post-Test
Money Doesn't Just Grow on Trees Post-Test
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A presentation for a #DECA Project focusing on #Financial Literacy
Flashcards
16 cards
F
Practice quiz
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Host live
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Questions
16
Answers
1
What is one way to get out of debt?
Talk to the lending company
Acquire a loan
Talk to a bankrupt attorney
File for bankruptcy
2
How have income and spending changed in the last 10 years?
Income up, Spending down
Income up, Spending up
Income down, Spending down
Income down, Spending up
3
Which payment method involves borrowing money?
Cash
Debit Card
Check
Credit Card
4
Which of the following does NOT reduce tax liability?
Tax Deductions
Tax Credit
Tax Exemptions
Failure to File Taxes
5
Did you learn?
Yep
No
Possibly
6
Which payment method is best for impulsive purchases
Check
Credit Card
Debit Card
Cash
7
Which is a type of income?
Gross
Taxable
Borrowed
Net
8
Which one is correct?
Form W-4 tells employees how much tax is withheld
Form W-4 is to file Federal taxes 1040 is for employer
Form W-4 is for employer 1040 is to file Federal taxes
1040EZ is like the 1040 except that you have < $100,000
9
What is a co-signer?
Someone who promises to pay a loan if the borrower can't
Someone who increases the trust of a lender
Someone who will recieve half of the benefits
10
What doesn't a lender tell a borrower?
Borrowing is necessary
APR
Payment total
Payment schedule
11
What are tax deferments?
A result of a loss of profits
A reduction of taxes due to having dependents
Saving in a Retirement Plan such as an IRA or a 401K
12
What is wealth?
An accumulation of all your assets
All of your money
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
13
Which payment method is best to limit spending?
Debit card
Credit card
Cash
Check
14
Which is not a type of insurance?
Food
Life
Car
Home
15
What is investment fraud?
When you look up at the ceiling because it says gullible
When someone steals your identity
When someone influences another to make a bad purchase
When someone counterfeits money
16
What are the four stages of financial success?
Upper Class, Middle Class, Lower Class, Undesirable
Rich, Wealthy, Broke, In Debt
Staple, Broker, In Debt, Bankrupt
Stable, Investing, No Debt, Secure
