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5th Grade Financial Literacy Review Flashcards | StudBud
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5th Grade Financial Literacy Review
5th Grade Financial Literacy Review
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#financialliteracy 5th grade math review
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
_______ is the money you spend for goods (things) and services.
Income
Sales Tax
Expenses
Payroll Tax
2
Define Expenses.
What is earned or made available to you.
The amount of money you spend to pay bills or for other needs and wants.
A verify that your checkbook register balances.
A list of transactions in your checking account over the month.
3
An organized plan for spending and saving money is called a ______.
Expenses
Balance
Income
Budget
4
A balanced budget is...
Income is equal to expenses and savings
I can spend every penny
5
Identify the balanced budget.
Income 150.00 / Expenses 151.00
Income 175.00 / Expenses 75.00
Income 450.00 / Expenses 450.00
Income 210.00 / Expenses 205.00
6
Sara decided to go to Pinstack and bowl with her friends. This is an example of _______.
income
budget
balance
expense
7
Jerry earns $50. He saves $30. How much can he spend on a new hat and still have a balanced budget?
$20
$30
$25
$45
8
Money that is earned is called ________.
Property Tax
Payroll Tax
Income tax
Income
9
The amount of money you have in your account is called ______.
Deposit
Balance
Budget
Taxes
10
Eating out for is an example of income.
False
True
