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Personal Finance Flashcards | StudBud
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Personal Finance
Personal Finance
12 terms
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StudBud Administration
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5th grade financial literacy
Flashcards
12 cards
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Practice quiz
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Questions
12
Answers
1
The money you pay the government from your earnings every year.
Sales taxes
Income taxes
Property taxes
Payroll taxes
2
The money in your account now is called your
taxes
debit
budget
balance
3
The money you pay to the government for land you own.
Property taxes
Sales taxes
Income taxes
Payroll taxes
4
The money you pay the government when you purchase some items.
Sales taxes
Income taxes
Property taxes
Payroll taxes
5
A variable expense is an amount you owe that stays the same, month after month.
True
False
6
A withdrawal is taking money out of your bank account. When you put money in, you make a
debit
budget
deposit
credit
7
Marco earns $100 at his job. His deductions total $25. What is his net income?
$125
$100
$75
$50
8
The amount of $ you get after deductions (taxes and insurance) are taken out of your paycheck.
financial institution
balance
net income
gross income
9
A plan for how income will be spent
budget
deposit
debit
credit
10
Li wants to buy 2 pencils. She has $203.75 in her bank account. She should use a credit card.
True
False
11
Income is
the amount of money you save
the amount of money you lend
the amount of money you earn
the amount of money you spend
12
This happens when the total amount of $ spent or saved equals the total income.
a financial institution
a balanced budget
sales tax
income taxes
