Financial Literacy Midterm

Front

If taxes due are greater than the taxes withheld, then _____________.

Back

money is owed

Front

Which of the following is not a cash inflow?

Back

Savings

Front

By purchasing a warranty, you are guaranteed that whatever you purchased will not break. True or False?

Back

False

Front

Bartering is trading one thing of value for another. True or False?

Back

True

Front

Last month, Jorge was paid a total of $9,000, which included a bonus of $1,500. What is Jorge's gross bimonthly pay during a month when a bonus is not paid?

Back

$3,750

Tags

CCSS.7.EE.B.3

Front

What is financial literacy?

Back

The ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

Front

What is a cash inflow?

Back

Money received by an individual or business, such as income from work, investments, or sales.

Front

What is a cash outflow?

Back

Money spent by an individual or business, such as expenses for goods, services, or bills.

Front

Define 'gross pay'.

Back

The total amount of money earned by an employee before any deductions, such as taxes or retirement contributions.

Front

Define 'net pay'.

Back

The amount of money an employee takes home after all deductions have been made from gross pay.

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.8.3

CCSS.RI.9-10.3

CCSS.RI.9-10.5