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Financial Literacy Basics Flashcards | StudBud

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What is the first step to cashing a check?

What is gross pay?

Financial Literacy Basics

8 terms·StudBud Administration

Test your knowledge on fundamental concepts related to personal finance and money management

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Questions 8

Answers

1
What is gross pay?
The amount deposited in your bank account
The amount taken out for taxes
The amount you make minus taxes
The total amount you make at your job
2
What is the first step to cashing a check?
Give the check to the teller
Sign the check
Fill out a deposit slip
Go to the bank
3
What is net pay?
The total amount you make at your job
The amount taken out for taxes
Your gross pay plus bonuses
The amount you make minus taxes
4
Which phrase is a polite way to ask a question?
Give me your phone number
Could you tell me the time please?
Explain this to me
Tell me the time
5
Which of these is NOT a common tax deduction?
State tax
Federal tax
Social Security tax
Vacation tax
6
What are tax deductions?
Pre-tax savings programs
Money added to your paycheck
Your net pay
Amounts taken out of your check for taxes
7
What does automatic deposit mean?
Your money goes straight into your checking account
You get paid in cash
You don't get paid
You have to bring your check to the bank
8
What is a 401K?
A government tax
A health insurance plan
A pre-tax savings program for retirement
A type of bank account