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Financial Literacy
Financial Literacy
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Financial Literacy Review (5th Grade STAAR Review)
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
Raul pays property tax in Dallas. On which of the following might Raul pay property tax?
House
Income
Salary
Clothing
2
Lee pays $0.02 in sales tax for every dollar. If she buys $60 of items, what is the total cost?
$61.20
$35.00
$1.20
$60.02
3
Why is gross income "gross"?
ummm
we don't get to keep it all--taxes come out
it is smelly
it looks bad
4
If I am debiting from my bank account I am--
adding money
spending money
saving money
5
Which of the following is also called gross income?
Payroll Taxes
Net Income
Total Earnings
6
If I make a deposit in my bank account I am---
spending money
adding money
7
What are his total expenses?
$50
$60
$30
$70
8
I bought for science supplies from WalMart and had to pay sales tax. The sales tax will pay
WalMart for the goods
street repairs
Walmart workers
social security
9
Which of the following can Jose use if he wants to borrow money to purchase an item ?
Credit Card
Check
Debit Card
Money Transfer
10
What is also called earnings after taxes?
Gross Income
Payroll Taxes
Net Income
11
Payroll tax pays for--
healthcare/medicare
social security
all of the above
unemployment compensation
12
What is his total income?
$40
$25
$60
$45
13
What could Dean do to balance his budget?
Decrease his movie rentals by $5
Increase his allowance by $10
Increase his savings by $5
14
Which of the following shows when a budget is balanced?
Income=Expenses
Income > Expenses
Expenses > Income
15
Sales tax comes from--
city and state
international law
federal
