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Finaincial Literacy Flashcards | StudBud
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Finaincial Literacy
Finaincial Literacy
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This quiz is a fun way to go over what was thought about financial literacy!
Flashcards
12 cards
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Questions
12
Answers
1
Income that requires direct effort to earn returns is referred to as
Passive income
Earned income
Active income
Payed income
2
Financial literacy can lead directly to all of the following expect
Sound Financial decisions
Good money management
Better eating habits
Increase in wealth
3
Profit income carries lower risks due to the potential for more free time, flexable work time and market fluctuations.
False
True
4
What is profit income
Profit made from selling illegal items
An income that is more than your previous income
Profit made from Selling goods or services at a higher price
An income that is more than your expenses
5
How can one increase their income streams
By selling drugs
Working longer hours
Taking a loan
Diversifying sources of income
6
An emergency fund provides financial security, allowing for stress-free management of unexpected expenses.
False
True
7
Which is not one of the four main categories in bedgetting
Need
Savings/investments
Debts
Income
8
The ability to make informed and effective financial decisions that help achieve desired lifestyle and financial goals
Business management
Good business head
Common sense
Finaincial Literacy
9
A business plan outlines strategies for success and profitability, needed to attract investment and manage operations.
True
False
10
Which of the following is less likely a benefit of budgeting
Helps save money
Helps when buying fancy shoes
Identifying spending habits
Cuting cost of unneccary
11
Payments made to shareholders from a company's profits, typically distributed quarterly.
Are called?
Shares
Wages
Dividends
Profit
12
Income that require intial effort and less and less as time proceeds in refered to as?
Earned Income
Active Income
Paid Income
Passive Income
