Home Library Explore SAT

Home Library Explore SAT

Grade 5 Math Financial Literacy Flashcards | StudBud

Explore/Grade 5 Math Financial Literacy

Grade 5 Math Financial Literacy

11 terms·StudBud Administration·773 plays

Budgets

Flashcards11 cardsFPractice quizPHost liveL

Questions 11

Answers

1
What is the sales tax called in Ontario?
PST
HST
GST
SST
2
How much is the sales tax in Ontario?
15%
13%
8%
5%
3
If you want to purchase a video game for $50. How much will the video game cost with the tax?
$43.50
$56.50
$6.50
$50.13
4
You can only spend or save your money.
False
True
5
How do you figure out the amount of sales tax?
Subtract 13% from the item
Add $1.13 to the item
Multiple the cost of the item by .13
Double the cost of the item
6
Why is it important to learn to manage your money?
So you don't mess up your future credit.
So you could make lots of money
So you could invest all your money.
Because your parents told you.
7
You have to pay sales tax on everything you buy.
False
True
8
What is a sales tax?
A tax you pay when you file your income tax
A tax charged when you purchase and item
A tax that businesses pay
A tax taken out of your paycheck
9
How do you create a budget?
A type of bird
An estimate of income and expenses for a period of time
A savings account
A type of checking account
10
Why is creating a budget important?
Budgets make you rich
Budgets could cause you to pay more money
Following a budget will keep you out of debt.
Because writing a budget is fun.
11
What is a budget?
Regular expenses
A monthly report that compares amounts
Money you have earned
A plan for using your money