How do you calculate profit?

The amount of money you sell something for - you expenses

What are variable expenses?

Expenses that change each month

What is the BEST way to earn interest on the money you save?

Put the money in a savings account at a bank.

What is true about saving money in a bank savings account?

B-You may end up with more money than you deposited.

What does "ending balance" mean?

The amount of money you have left in your bank account.

Why are Utility Bills a Fixed Expense?

You will pay the utility bill each month.

studbud

Personal Financial Literacy Review

15 termsStudBud Administration214 plays

A #math #Quiz to review #financialliteracy #TEK #4.10 for the #4thgrade #STAAR.

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
Trina saved $2 from her $15 allowance. She spent $7 and shared the rest. How much was shared?
$8
$13
$6
$9
2
What is the store's profit?
C $59.50
D $73.50
B $63.50
A $259.00
3
How do you calculate profit?
The amount you earn - the amount you save
The amount of money you sell something for + your expenses
The amount of money you save - the amount you borrow
The amount of money you sell something for - you expenses
4
What are variable expenses?
Expenses that stay the same
The amount of money you make after paying all expenses
The amount of money you spend in in all
Expenses that change each month
5
What is the BEST way to earn interest on the money you save?
Give the money to your brother.
Put the money in a savings account at a bank.
Keep the money in your shoe box.
Put the money in your piggy bank at home?
6
What is true about saving money in a bank savings account?
D-You have to pay the bank to keep your money there.
B-You may end up with more money than you deposited.
C-You can never get your money again.
A-You may lose money.
7
What does "ending balance" mean?
The difference between expenses and income.
The amount of money you have left in your bank account.
The total money received.
Total money spent.
8
Which is a fixed expense?
C-The cost of Advertising
A-Cost of the Beads
D-Rent for her Shop
B-The Cost of the String
9
What is the TOTAL money spent on variable expenses?
$786
$336
$1,338
$536
10
What is her profit for the month?
C $1,881
B $1,817
A $1,921
D $5,987
11
Which is a variable expense?
C-The Car Payment
B-The House Payment
A-Club Membership
D-The Cost of Food
12
Tiffany charged $9.43, $23.36, and $6.45 to her credit card. How much did she charge in all?
$39.24
$38.24
$36.23
$48.46
13
Why are Utility Bills a Fixed Expense?
The amount of the bill will always be less than $100.
You only pay the utility bill if you want to.
The utility company will fix your lights every month.
You will pay the utility bill each month.
14
Which is NOT the purpose of a financial institution?
A-Keeping money safe
C-Borrowing money
B-Lending money
D-Buying gas for your car
15
What are fixed expenses?
Expenses that stay the same
The amount of money you earn
Expenses that change each month
The amount of money you make after all expenses are paid

Personal Financial Literacy Review Flashcards | StudBud