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Financial Literacy Flashcards | StudBud
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Financial Literacy
Define net income...
Which is a liability?
Financial Literacy
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StudBud Administration
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7th grade financial Literacy unit
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Which is a liability?
gym membership
debit card
credit card
savings account
2
Define net income...
amount before deductions
income tax
amount you receive after deductions
net worth
3
Gross pay is...
something nasty because it's gross
IDK
what you see on your paycheck
paycheck amount before deductions
4
Which one of these is a variable expense?
groceries
car payment
water bill
mortgage
5
How do you calculate net income?
Gross pay - deductions
net income + deductions
Gross pay - net income
Gross Pay - salary
6
What are expenses?
things that you pay for
the expendables
expensive things
that thing I sent you
7
What is a budget?
a chicken nugget
a plan to manage income and expenses
when you spend more than you have
A rental car company
8
Which is not a tax withheld from earnings?
medicare
sales tax
income
social security
9
Who is this?
Diane Sawyer
Diana of Whales
Diana Ross
Jane Doe
10
How do you find net worth?
Assets minus Deductions
Assets minus Subtraction
Gross Income minus Deductions
Assets minus Liabilities
