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Money Doesn't Just Grow on Trees Pre-Test Flashcards | StudBud
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Money Doesn't Just Grow on Trees Pre-Test
Money Doesn't Just Grow on Trees Pre-Test
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A presentation for a #DECA Project focusing on #Financial Literacy
Flashcards
16 cards
F
Practice quiz
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Host live
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Questions
16
Answers
1
Which payment method involves borrowing money?
Debit Card
Check
Cash
Credit Card
2
Which of the following does NOT reduce tax liability?
Tax Credit
Failure to File Taxes
Tax Exemptions
Tax Deductions
3
Which is not a type of insurance?
Food
Home
Life
Car
4
What is investment fraud?
When you look up at the ceiling because it says gullible
When someone influences another to make a bad purchase
When someone counterfeits money
When someone steals your identity
5
What is wealth?
All of your money
An accumulation of all your assets
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
6
How have income and spending changed in the last 10 years?
Income down, Spending down
Income up, Spending down
Income up, Spending up
Income down, Spending up
7
What are tax deferments?
A reduction of taxes due to having dependents
A result of a loss of profits
Saving in a retirement plan such as an IRA or a 401K
8
Will you learn?
Possibly
No
Yep
9
Which one is correct?
Form W-4 is to file Federal taxes 1040 is for employer
Form W-4 tells employees how much tax is withheld
Form W-4 is for employer 1040 is to file Federal taxes
1040EZ is like the 1040 except that you have < $100,000
10
What is a co-signer?
Someone who will recieve half of the benefits
Someone who promises to pay a loan if the borrower can't
Someone who increases the trust of a lender
11
Which is a type of income?
Taxable
Borrowed
Net
Gross
12
What are the four stages of financial success?
Staple, Broker, In Debt, Bankrupt
Stable, Investments, No Debt, Secure
Rich, Wealthy, Broke, In Debt
Upper Class, Middle Class, Lower Class, Undesirable
13
What is one way to get out of debt?
Talk to the lending company
File for bankruptcy
Talk to bankrupt attorney
Acquire a loan
14
Which payment method is best to limit spending?
Credit card
Debit card
Cash
Check
15
Which payment method is best for impulsive purchases
Credit Card
Cash
Debit Card
Check
16
What doesn't a lender tell a borrower?
Payment schedule
APR
Payment total
Borrowing is necessary
