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Personal Money Management Flashcards | StudBud
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Personal Money Management
Personal Money Management
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20 vocab words and 5 bonus questions!
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
Budget doesn't help you to save money
No
Yes
2
What is a profit?
Money left over after subtracting the expenses
None of the above
The money that the employee earns
Money left over after subtracting the income
3
What does FICA stand for?
Federal Insurance Central Act
Federal Income Contributions Act
Federal Income Central Association
Federal Insurance Contributions Association
4
Do you have to have a savings account?
No
Yes
5
What is a pay stub?
A document where all the employee's names are
A piece of paper indicating all the employee's income
A piece of paper indicating their economical situation
Management of revenues
6
What is expenses?
None of the above
cost or charge
money paid to gain anything
7
BONUS QUESTION 2 What happens if you don't pay taxes?
You can't use credit/debit cards anymore
You die!
Get arrested, and get a trial by the court
Go to jail
8
Does interest rate change?
Yes
No
9
BONUS QUESTION 3 Credit Card bills can be expensive.
Yes
No
10
How can you get credit?
Pay for a car over time
Don't pay interest
Don't pay off debt
Ignore bills
11
What is a checking account?
None of the above
An account where you only save money
An account that most people don't use
account where bank holds your $. Allows deposits/withdrawels
12
What is a cost?
Amount of goods and services that are available for use
A price of a product
Money paid to an employee
A type of a income
13
What are goods?
Softwares
Humans
Cars
Bacteria
14
Who collects the Federal Income tax?
CDC
The US Army
IRS
The government
15
Who is the head of a Company?
President
Government
Workers
Entreprenuer
16
What is Gross Income?
To lose money
Income that is very GROSS (Bleh)
The income you get after subtracting expenses such as taxes
Total revenue you earn before any deduction
17
What is a Net Income?
Total revenue received before any deductions
The excess of revenues and gains of a business over expenses
A same thing as income with a 'Net' in front
Amount of money you earn every year
18
Who is NOT a producer?
A person that sells goods
A person that buys goods
A person that owns goods
A person that manufactures goods
19
BONUS QUESTION 1 What is the average income in the household in US?
58k
57k
55k
56k
20
What is a wage?
None of the above
Income
Money paid to an employee
An economic term that rhymes with cage
21
What is supply?
Money that is in your bank
A amount of goods you have
The price of a product
A special type of a tax paid to the president
22
BONUS QUESTION 4 What is the highest paying job in the US?
Attorney
Doctor
President
Lawer
23
BONUS QUESTION 5 what is the lowest paying jobs in US?
Fast food workers
Dishwashers
Street Workers
Sample Attendants
24
What is a demand?
Opposite of supply
A word related to supply
Desire for a product
None of the above
25
Investment always benefits you
Yes
No
