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Chapter 6 Review Flashcards | StudBud
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Chapter 6 Review
Chapter 6 Review
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Flashcards
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Questions
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Answers
1
What is an IRA?
International Retirement Association
Interest Really Accumulates
Individual Retirement Account
2
The parts of a budget are income and _________.
expenses
earnings
fees
3
You need an ATM card and a ______ to use an ATM machine.
PIN
Checkbook
Savings Book Log
4
Which one is NOT a type of tax?
cash
sales
income
5
Which one is NOT a way that credit card companies make money?
asking nicely for donations
fees charges
interest charges
6
What is a WARRANTY?
a written promise that a product will work, or they will fix/replace it
a slip you fill out when putting money in the bank
a plan for spending money
7
What is a BALANCE?
a plan for spending money
the amount of money you pay in bills
The amount of money available in your bank account
8
What is NET PAY?
amount of money an employee keeps from their paycheck
a plan for paying bills
a check from a boss to a worker
9
What does ATM stand for?
automatic tax management
all the money
automated teller machine
10
What is one thing to consider when choosing a bank?
Is it close to my home or work?
Do they have a cool logo?
Do they have a celebrity in their commercials?
11
When should you NOT use cash?
when buying an elote or paleta from the street vendor
when you are paying a bill in the mail
when you are at a yard sale/swap meet
12
A paper that tells about your money earned/hours worked/taxes taken is a...
paycheck stub
paycheck
receipt
13
A certificate of loan to the government is called a ________.
IRA
CD
savings bond
14
What is a PAYCHECK?
a plan for spending money
a machine that lets you take out money
a check from an employer(boss) to an employee(worker)
15
When you put money into a savings account, you fill out a _____________.
deposit slip
withdrawal slip
personal check
16
What is a BUDGET?
a plan for spending money
a written promise that a product will work
proof of your purchase
17
You should use _________ to pay bills through the mail.
coins
checks
cash
18
How can a budget be helpful?
it keeps you on track with your bills/spending
budgets aren't helpful!
It is a receipt of your purchases
19
What is a WITHDRAWAL SLIP?
a form for taxes
a paper you fill out when you take out money
a written promise a product will work
20
Why should you keep your receipt when you buy something?
to put into your scrapbook
in case you need to return it
to show your friends how much money you spent
