Duplicate of 4th Grade Financial Literacy

Income, Expenses, Profit (IEP): Which describes how we calculate profit?

Which is an example of a variable expense?

I sold a shirt for $15. My expenses were $2 for ink and $4 for thread. How much was my profit?

I start a bank account with $100. I deposit $75. I then, withdraw $25. What is my balance?

I spend $15 on wheels to make 4 race cars. I sell each car for $10. What's my profit?

Weekly karate class $20. New game $34. Weekly loan payment $10.What's the total fixed expenses?

I buy an old chair for $30.I spend $10 for repairs on it. I sell it for $60. What's my profit? 

Which is a reason Alex might go to a bank?

Which is an example of a Fixed Expense?

Jo spends $10 a month for dues. He sometimes buys dessert for $2. What's his fixed expense for the year?