a share of a corporation sold to the public

What is an "expenditure"?

money that is spent on goods, services, and bills

What does "pay yourself first" means?

To automatically save a specified amount from a paycheck for future use

Required payments to a governmnet

What is a credit card?

A card that lets the holder buy commodities and pay for them later

What is a long term goal?

A goal that will take longer than a year to accomplish

Which of the following is NOT an advantage to using a debit card?

not a way to build credit history

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Financial Literacy Review

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Questions 14

Answers

1
What do we call a portion of one's income paid to a government?
salary
income tax
interst
wages
2
What term refers to the original amount of money invested?
savings account
interest
principal
bond
3
What is a stock?
a share of a corporation sold to the public
an IOU from the government
a type of bank account
a payment from an investment
4
Is a high interest rate good or bad?
Neither
It depends
Good
Bad
5
What term refers to the money received on a regular basis through work or through investments?
income
interest
credit
stocks
6
What is an "expenditure"?
additional income each month
money that is spent on goods, services, and bills
a minimum balance in a checking account
a credit score ding
7
What does "pay yourself first" means?
To be self employed
To automatically save a specified amount from a paycheck for future use
Partake in self care
To buy yourself a treat with every paycheck
8
A low credit score is better than a high credit score.
False
True
9
What do we call monthly income AFTER taxes are paid?
net annual income
gross annual income
gross monthly income
net monthly income
10
What are taxes?
A social insurance system
Interest that is earned from a saving account
Required payments to a governmnet
Money earned each month
11
What is a credit card?
A card conencted to a checking account
A card connected to a savings account
A gift card
A card that lets the holder buy commodities and pay for them later
12
What is a long term goal?
Your desired career
A goal that will take longer than a year to accomplish
A goal that will take less than a year to accomplish
A goal that has already been achieved
13
Which of the following is NOT an advantage to using a debit card?
no interest charges
no ann ual fee (usually)
it operates like cash or check
not a way to build credit history
14
What is a budget?
Plan for spending money
All of the above
A record of income and spending
A tool to track money habbits

Financial Literacy Review Flashcards | StudBud