7th grade Net Worth and Budgets Flashcards

1

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

Motorcycle
Credit Card Debt
Home Loan
Student Loans

2

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

30%
40%
50%
20%

3

Who are they?

Teen Titans
Adolescent Avengers
Teenage Mutant Ninja Turtles
Young Warriors

4

Who is this?

Max
Oscar
Odie
Sparky

5

What is the net worth?

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

6

What song is this?

Despacito
Give Me Everything
La Tortura
No Me Queda Mas

7

What is a liability?

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

8

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

$19.50
$35
$25
$31.53

9

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

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

10

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

10%
20%
25%
15%

11

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

Phone bill
Guitar
Clothes
Computer

12

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

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

13

Which of the following is a variable expense?

Groceries
Insurance - Car and Home
Car payment
Childcare

14

Which of the following is a fixed expense?

Entertainment
Food
Utilities
Rent

15

What is the net worth?

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

16

What is an asset?

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

7th grade Net Worth and Budgets

Questions 16

7th grade Net Worth and Budgets

Questions 16