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Duplicate of Financial Literacy Flashcards | StudBud
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Duplicate of Financial Literacy
Duplicate of Financial Literacy
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Vocabulary words for Financial Literacy
Flashcards
16 cards
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Questions
16
Answers
1
Which Tax is paid when you have income?
Sales Tax
Income Tax
Payroll Tax
Property Tax
2
Which of these is an example of an expense?
gift card
paycheck
car payment
income tax
3
Which tax is paid when you own property, such as a home?
Income Tax
Property Tax
Sales Tax
Payroll Tax
4
Which represents a balanced budget?
Total Income > Total Expense
Total income = Total Expense
Total Income < Total Expense
5
What is a variable expense?
an amount you get that changes regulary
An amount you pay that changes based on usage
An amount you pay that does not change
an amount that occurs regularly
6
Budgets are made up of what?
expenses only
income, expenses, and savings
income only
savings and expenses
7
The amount of money you receive after deductions are subtracted from your gross income
taxes
gross income
deposit
net income
8
Which tax is paid whenever you buy things?
Income Tax
Sales tax
Property Tax
Payroll Tax
9
What is the tax that is taken out of an employee's check?
budget
Sales Tax
Payroll Tax
Income Tax
10
What is money taken out of your account?
balance
deposit
budget
debit
11
A plan for how much income will be received and how it will be spent is called what
deposit
budget
taxes
Income Tax
12
What is it called when money is put into your bank account?
debit
deposit
income
credit
13
The money in your account
budget
taxes
deposit
debit
14
Money people pay to suport the government is called
gross income
taxes
budget
net income
15
What is the total amount of money you earn?
Income Tax
Net Income
Gross Income
Sales Tax
16
What is a fixed expense?
An amount you pay monthly that can change based on usage
An amount you pay that changes regularly
an amount that does not change that you pay regularly
A one time amount that you pay
