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Personal Financial Literacy TEKS 5.10A - 5.10E Flashcards | StudBud

Explore/Personal Financial Literacy TEKS 5.10A - 5.10E

Personal Financial Literacy TEKS 5.10A - 5.10E

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#quiz, #personal financial literacy, #math, #fifth grade, # math TEKS 5.10A, 5.10B, 5.10C, 5.10E

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Questions 8

Answers

1
What is an advantage of using cash to pay for stuff?
You have to carry it around everywhere.
You have to pay interest.
It could be stolen from your wallet.
No way to have identity stolen.
2
What is an advantage of using a check to pay a bill?
Some businesses no longer accept checks.
He does not have to enter the expense in his check register.
He does not have to pay interest.
It takes longer to write a check than swipe a card.
3
Elijah's monthly paycheck is $1,781.03. What do we call this amount?
payroll tax
net income
gross income
deductions
4
Gabriel buys groceries with his credit card. What is a disadvantage of using his credit card?
His identity could be stolen.
It is accepted as a payment almost everywhere.
He borrows $ to get groceries if he does not have the money.
He may earn cash back on his purchase.
5
Beau makes $289 a week. His total payroll deductions are $42. How can he find his gross income?
Subtract his gross income from his net income.
Add his gross income and his deductions.
Subtract his deductions from his gross income.
Add his net income and all deductions.
6
Money required by the federal government to be taken out of paycheck, based on income
sales tax
payroll tax
property tax
income tax
7
Of the choices below, which is the best way to balance a budget when expenses are too high?
Ask parents for more money
Apply for a loan
Eliminate savings
Reduce entertainment expenses
8
Which is a true statement?
Net income is the total amount earned.
Payroll taxes - gross income = net income.
gross is a total before deductions; net is after deductions
Gross income is disgusting.