Unit 6 Review

Unit 6 Review

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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23 questions

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1.

FLASHCARD QUESTION

Front

Which of the following is subtracted from assets to determine net worth? Income, wealth, Credit score, Liabilities

Back

Liabilities

2.

FLASHCARD QUESTION

Front

Which of the following is would be an annual cost of owning a home? Rental income, Car insurance, Grocery expenses, Property taxes, homeowners insurance, and maintenance costs

Back

Property taxes, homeowners insurance, and maintenance costs

3.

FLASHCARD QUESTION

Front

Which of the following is not a benefit of home ownership? Building equity and stability, increase in value, Freedom to make modifications, Increasing debt and instability

Back

Increasing debt and instability

4.

FLASHCARD QUESTION

Front

One of the advantages of leasing a property is that the expense of repairs is —

Back

handled by the property owner or landlord

5.

FLASHCARD QUESTION

Front

Which of the following is a potential benefit of making a donation to a charitable organization? Options: Eligibility for a tax deduction, Increase in credit limit, Opportunity for investment, higher income tax

Back

Eligibility for a tax deduction

6.

FLASHCARD QUESTION

Front

What is a primary reason for obtaining insurance?

Back

To cover potential losses or unexpected events

7.

FLASHCARD QUESTION

Front

When considering personal bankruptcy, it is crucial to understand the —

Back

financial implications

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