What is gross income?

Income before any taxes are taken out.

Income that is left after taxes are taken out.

What is property tax?

A portion of value to things paid to the government.

What is a credit card?

A card that lets you buy now and pay later.

An orgaized plan for spending and saving money.

Money paid to the government based on your income.

What is a payroll tax?

Money an employer witholds from an employees paycheck.

What is a debit card?

A card issued by the bank to buy now and pay now.

Money added to the cost of an item or service.

studbud

Financial Literacy

15 termsStudBud Administration54 plays

Financial Literacy Review

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
What is gross income?
Income before any taxes are taken out.
Income that is moved into your bank account.
Income that is given to you by your credit card company.
Income after taxes are taken out.
2
What is net income?
Income that is given to your credit card company.
Income that is left after taxes are taken out.
Income before taxes are taken out.
Income that is transferred to your bank.
3
What is property tax?
A tax of what you earn.
A portion of value to things paid to the government.
A tax on what you buy
A tax on what you spend.
4
A pair of laces costs $7.00. The sales tax is $0.08 on every $1. What is the total?
$7.00
$7.08
$0.08
$7.56
5
An allowance is something that is taken away.
False
True
6
What is a credit card?
Money taken out of your bank.
A card that lets you buy now and pay now.
A card that lets you buy now and pay later.
Money taken from your paycheck.
7
What is a budget?
An orgaized plan for spending and saving money.
A person's income after taxes.
Money you spend on your income.
Money you spend when you buy something.
8
What is income tax?
Money paid to the government based on your income.
Money transferred to your bank from your employer.
Money you make after taxes.
Money given to you for doing work.
9
The goal is to balance your buget?
False
True
10
What is a payroll tax?
Money that you can use to make purchases.
Money that is given to your bank by your employer.
Money that is given to your credit card company.
Money an employer witholds from an employees paycheck.
11
An expense is something that you get?
True
False
12
There are only 8 questions on the test you can only miss one to pass.
True
False
13
Ms. Ralph is the best teacher in the whole world!!!
False
True
14
What is a debit card?
A card issued by the bank to buy now and pay later.
A card issued by your employer to pay your bills.
A card issued by the bank that pays your bills.
A card issued by the bank to buy now and pay now.
15
What is sales tax?
Money added to your bank account from your purchases.
Money added to what you earn each month.
Money added to the cost of an item or service.
Money given to you by your employer.

Financial Literacy Flashcards | StudBud