stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Personal Money Management Flashcards | StudBud
Explore
/
Personal Money Management
Personal Money Management
25 terms
·
StudBud Administration
·
599 plays
20 vocab words and 5 bonus questions!
Flashcards
25 cards
F
Practice quiz
P
Host live
L
Questions
25
Answers
1
What is Gross Income?
Total revenue you earn before any deduction
The income you get after subtracting expenses such as taxes
To lose money
Income that is very GROSS (Bleh)
2
What is expenses?
None of the above
money paid to gain anything
cost or charge
3
What is supply?
The price of a product
A amount of goods you have
Money that is in your bank
A special type of a tax paid to the president
4
What is a profit?
The money that the employee earns
None of the above
Money left over after subtracting the expenses
Money left over after subtracting the income
5
Who is the head of a Company?
Government
Entreprenuer
President
Workers
6
What does FICA stand for?
Federal Insurance Central Act
Federal Income Central Association
Federal Insurance Contributions Association
Federal Income Contributions Act
7
Does interest rate change?
Yes
No
8
What is a demand?
A word related to supply
Opposite of supply
Desire for a product
None of the above
9
BONUS QUESTION 3 Credit Card bills can be expensive.
No
Yes
10
Budget doesn't help you to save money
Yes
No
11
Investment always benefits you
Yes
No
12
What is a checking account?
An account where you only save money
None of the above
An account that most people don't use
account where bank holds your $. Allows deposits/withdrawels
13
What is a wage?
None of the above
Income
An economic term that rhymes with cage
Money paid to an employee
14
Who is NOT a producer?
A person that owns goods
A person that buys goods
A person that manufactures goods
A person that sells goods
15
BONUS QUESTION 2 What happens if you don't pay taxes?
You can't use credit/debit cards anymore
You die!
Get arrested, and get a trial by the court
Go to jail
16
Do you have to have a savings account?
No
Yes
17
How can you get credit?
Don't pay off debt
Pay for a car over time
Don't pay interest
Ignore bills
18
BONUS QUESTION 1 What is the average income in the household in US?
56k
55k
58k
57k
19
Who collects the Federal Income tax?
The US Army
CDC
The government
IRS
20
What are goods?
Bacteria
Softwares
Humans
Cars
21
BONUS QUESTION 5 what is the lowest paying jobs in US?
Dishwashers
Sample Attendants
Fast food workers
Street Workers
22
What is a pay stub?
A document where all the employee's names are
A piece of paper indicating their economical situation
A piece of paper indicating all the employee's income
Management of revenues
23
BONUS QUESTION 4 What is the highest paying job in the US?
Lawer
Doctor
Attorney
President
24
What is a cost?
A price of a product
Money paid to an employee
Amount of goods and services that are available for use
A type of a income
25
What is a Net Income?
A same thing as income with a 'Net' in front
Amount of money you earn every year
The excess of revenues and gains of a business over expenses
Total revenue received before any deductions
