stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Group Flashcards | StudBud
Explore
/
Financial Literacy Group
Financial Literacy Group
10 terms
·
StudBud Administration
·
64 plays
A review of taxes, budgets, and incomes. Duplicate of 5th Grade Financial Literacy
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
What is income?
Taxes you pay
How much you pay in taxes
How much money you earn
2
___________ is money that is paid based on the amount of money you earn.
Gross Income
Property tax
Income Tax
Net Income
3
The total income before any taxes are taken out is _______ ________.
Sales Tax
Gross Income
Expenses
Net Income
4
_________ is the income that is left after taxes.
Sales Tax
Net income
Payroll tax
Gross income
5
A ___ is money paid to the government for services, like road work and police protection.
Income
Budget
Tax
6
______ are taxes paid to the government depending on the value of your home, land, or vehicles.
Net Income
Income Taxes
Gross income
Property Taxes
7
The total tax an employer withholds from a paycheck is called ________.
Sales Tax
Net income
Property Tax
Payroll Tax
8
A ________ is money added to the cost of items or services.
Budget
Net Income
Income Tax
Sales Tax
9
On a balanced budget, which is true?
You spend less than you make
You spend more than you make
10
Which expense is "fixed"?
Gasoline
Car payment
Groceries
