stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Financial Literacy Flashcards | StudBud
Explore
/
Financial Literacy
Financial Literacy
15 terms
·
StudBud Administration
·
153 plays
The basics of financial literacy.
Flashcards
15 cards
F
Practice quiz
P
Host live
L
Questions
15
Answers
1
Net Income is greater than Gross Income.
FALSE
TRUE
2
Expenses are taken out of your paycheck by your employer?
False
True
3
Which of these deductions come out of a person's paycheck?
Electric Bill
Welfare Tax
Income Tax
Medicare Tax
4
Net income is the amount of money one receives after all taxes and deductions are taken out.
True
False
5
Income taxes are paid to...
the federal government
the President
the mayor
the state of Texas
6
Banks do not charge interest on money borrowed.
True
False
7
Using a credit card immediately takes money out of a person's bank account.
TRUE
FALSE
8
Which one of these is not a part of a check?
Account number
check number
Pay to the Order of
photo
9
What are the acronyms for Automatic Teller Machine?
TAM
AMT
AUT
ATM
10
A balanced budget means that you have more expenses than income.
TRUE
FALSE
11
Which one of these is not taken out of a person's paycheck?
Medicare tax
Property tax
Social Security tax
Income tax
12
If I have more expenses than income, I should...
Cut back on unnecessary expenses
Take it out of my savings
Don't worry about it
Borrow the money from my parents
13
Property taxes are paid to...
the county of Lubbock
the state of Texas
the federal government
the city of Lubbock
14
Everyone should have a spending plan
Yes
Depends
Sometimes
No
15
What is a budget?
A bore
A Reward
A document
A financial plan
