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Personal Financial Literacy 5.10 Flashcards | StudBud
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Personal Financial Literacy 5.10
Personal Financial Literacy 5.10
12 terms
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vocabulary words for TEKS 5.10 A, B, C, D, E, & F #Math #PFL
Flashcards
12 cards
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Questions
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Answers
1
Gross Income
Total income earned from working
The total amount of the check
Income after taxes
Income before taxes
2
Net Income
The amount earned from working
How much money a basketball player makes
The total amount on the paycheck
The amount after taxes have been withheld
3
Income Tax
money earned from a job
tax on retail goods
tax withheld from a paycheck
tax based on income
4
Sales Tax
tax on goods and services
tax withheld from paychecks
tax on houses
tax on goods from a retail establishment
5
Credit Card
A plastic card used to scrap off ice from the windshield
used to make purchases and never pay back
A plastic card issued by a lender to make purchases
Used to make purchases, the money is withdrawn from the bank
6
Property Tax
Tax on goods and services
Tax based on income
Tax paid based on the value of certain property
tax paid based on income of certain property
7
Electronic Payments
Payments for electricity
Payment made directly from your bank through the internet
Payment made online
Payment at Walmart
8
Debit Card
A plastic card to play with
Used to make purchases, the money is from a lender
A plastic card that is kept in a wallet
Used to make purchases, the money is withdrawn from the bank
9
Payroll Tax
Tax on a business
Tax withheld from a paycheck
Tax paid to the government based on income
Tax on retail goods
10
Budget
List of expenses and income for the month
Something to be ignored
List of estimated Income and Expenses
Balanced when expenses are equal to income
11
Check
To deposit money into your account
To withdraw money from your account
An order to withdraw money from your bank account
A paper to decorate a room with
12
Income
money earned from a job
earnings, wages or salary
tax on money earned
money earned from Ebay