Financial Literacy Practice Test

Front

Items that are owned by an individual

Back

assets

Front

A plan for spending

Back

budget

Front

Debts that are owed by an individual

Back

liabilities

Front

The value of one's assets minus one's liabilities

Back

net worth

Front

You are purchasing a T.V for $990 with 9% sales tax. What is the final price of the T.V.?

Back

$ 1,079.10

Front

Mrs. Ray is buying some groceries. They total to $35.50. Sales tax is 4.5%. When she goes to pay, how much will she owe?

Back

$37.10

Front

Bills and Loans are examples of ________?

Back

Liabilities

Front

Which of the following is considered an asset? car payoff, savings

Back

savings

Front

Assets are best described as

Back

money or property you own

Front

Debts or money you owe (you are responsible for paying back).

Back

Liabilities