7th grade Net Worth and Budgets Flashcards

1

Felicia earns $800 a month. What percent of her income is spent on car payment and cell phone?

40%
30%
50%
20%

2

Which of the following is a fixed expense?

Rent
Utilities
Food
Entertainment

3

What is an asset?

The debts you owe.
Things you own.
Things you need.
Things you want.

4

What is a liability?

Things you own.
Things you want.
Things you need.
The debts you owe.

5

A refrigerator is $525.50. There is a 6% sales tax rate. What is the sales tax?

$35
$31.53
$25
$19.50

6

Which of the following is a variable expense?

Groceries
Car payment
Insurance - Car and Home
Childcare

7

Felicia earns $800 a month. What percent of her income is spent on college savings?

20%
15%
25%
10%

8

Which of the following is NOT an example of a liability?

Credit Card Debt
Home Loan
Motorcycle
Student Loans

9

Who is this?

Odie
Oscar
Sparky
Max

10

What is the net worth?

$16,550
$11,750
- $11,750
- $16,550

11

What is the net worth?

$87,025
$107,550
$20,525
$128,075

12

A monthly budget is shown. Which equation can be used to determine the budget for one year?

y = 3,600 x 4
y = 3,600 x 12
y = 3,600 ÷ 7
y = 3,600 ÷ 52

13

Who are they?

Teenage Mutant Ninja Turtles
Teen Titans
Adolescent Avengers
Young Warriors

14

What does it mean for someone to have positive net worth?

Liabilities are greater than assets.
Assets are greater than liabilities.
Liabilities are equal to zero.
Liabilities and assets are equal.

15

Which of the following is NOT an example of an asset?

Clothes
Phone bill
Guitar
Computer

16

What song is this?

Despacito
La Tortura
Give Me Everything
No Me Queda Mas

7th grade Net Worth and Budgets

Questions 16

7th grade Net Worth and Budgets

Questions 16