stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy: Taxes Flashcards | StudBud
Explore
/
Financial Literacy: Taxes
Financial Literacy: Taxes
15 terms
·
StudBud Administration
·
176 plays
Financial literacy for middle school
Flashcards
15 cards
F
Practice quiz
P
Host live
L
Questions
15
Answers
1
Which is NOT a fixed expense?
rent
credit card payments
student loan payment
car insurance
2
When choosing a career, you should consider your
All of these
Finances
Interests
Values
3
A budget can include
debt payments
charitable giving
all of these
paying yourself first
4
Funds that the state and federal government collect to pay their bills are known as
FICA
Deductions
Charity
Taxes
5
A tax on earnings from wages, salaries, tips and interests is
a property tax
an income tax
a medical tax
a sales tax
6
A plan for managing your money.
goals
budget
fixed expense
variable expense
7
Sales and property taxes are used to pay for
Jails
Streets
Streetlights
All of these
8
Goals that can be accomplished in less than a year.
Long term goals
Short term goals
9
Which of the following is NOT a type of deduction from a paycheck?
FICA
Federal Income Tax
State Income Tax
Property Tax
10
Which is a tactic a store will use to get you to buy more things.
All of these
Limited editions
free samples
upgrades
11
Making a purchase based on an immediate want or due to the pressure of advertising.
Impulse Buying
Long-term Goals
Fixed Expenses
Investing
12
Amount of income remaining after all deductions have been taken out of your pay.
Net Income
Gross Income
Income Tax
Medicare
13
Which of the following is NOT a need?
clothing
water
food
TV
14
Choose an item that is paid for by federal taxes.
Food Stamps
Bergen County Jail
Oakland Police
Oakland library
15
The total pay earned before any deductions are taken.
Net Income
Social Security
Medicare
Gross Income
