Duplicate of 7th Grade Financial Literacy Flashcards

1

Assets are $54000, Liabilities are $78,000. What is the net worth?

-$24,000
$24,000
$132,000
none of the above

2

How is 12.5% written as a decimal

12.5
.125
.0125
none of the above

3

If a person owns jewelry, this would be

a fixed expense
a liability
an asset
none of the above

4

A liability is something that a person

None of the above
Doesn't own
Doesn't have
Owns

5

Calculate the tax on $2500 at 12.3%

$307.50
None of the above
$255.30
$520.75

6

What is mode

none of the above
average
most
middle

7

The "t" in compound interest means

none of the above
time
total
tax

8

A deposit is

none of the above
added to the bank account
taken out of the bank account
a loan

9

Miscellaneous is an example of

Variable
Liability
Fixed
None of the above

10

A subtotal is the total

none of the above
the tax
before tax
after tax

11

75 out of 300 students like pizza. What percent like pizza

50%
75%
25%
None of the above

12

45.8% and 54.2% is

Both 100% and 1 Whole
6%
1 Whole
100%

13

What does the P stand for in the simple interest formula?

None of the above
Principle
Percent
Proportion

14

$25.00 is discounted by 5%. What is the new price?

$32.25
$22.50
none of the above
$23.75

15

A deposit of $10,000 that earns 4.5% for four years is

none of the above
$1250
$1800
$2250

16

Change .0825 to a percent

82.5%
825%
none of the above
8.25%

17

A loan is an example of a

Liability
Variable Expense
None of the above
Asset

18

What is the formula for simple interest

I = Prt
I = Prt
I =P(rt)
None of the above

19

A variable is an expense

none of the above
that come and goes
that can change
that does not change

20

A net worth is

None of the above
Assets - Variable
Liabilities - Assets
Assets - Liabilities

Duplicate of 7th Grade Financial Literacy

Questions 20

Duplicate of 7th Grade Financial Literacy

Questions 20