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Financial Literacy Flashcards | StudBud
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Financial Literacy
Financial Literacy
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Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
How much you are worth; the difference between assets and liabilities...
Assets
Income
Liabilities
Net Worth
2
A value that represents something you own...
Assets
Income Tax
Liabilities
Income
3
A checking account is an asset...
False
True
4
The ORIGINAL sum invested or lent is called the....
Principal Amount
Interest
Mr. Gracia
Final Amount
5
I understand this unit and I am ready to move on to geometry.
No
Yes
6
I can use the formula ______________ to calculate Net Worth....
Assets - Liabilities
Liabilities - Assets
7
Interest is....
the money that is being borrowed
confusing
the money that you pay to borrow money or use credit.
when you like someone
8
Rate is written as a decimal...
False
True
9
An amount of money that is coming or earned...
Assets
Checking Account
Income
Expenses
10
Time must be written in...
Weeks
Days
Months
Years
11
Credit card debt is a liability...
True
False
12
A loan is money or thing that is borrowed and expected to be paid with interest...
False
True
13
An amount you spend...
Assets
Expenses
Sales Tax
Liabilities
14
The amount of money owed to someone else...
Assets
Rebate
Income Tax
Liabilities
15
Interest calculated only on the principal, I=prt...
Income Tax
Simple Interest
i forgot :(
Sales Tax
