Personal Finance Basics Flashcard

Personal Finance Basics Flashcard

Assessment

Flashcard

Social Studies

10th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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11 questions

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1.

FLASHCARD QUESTION

Front

Which of the following best defines "salary"? Options: The total amount of money you earn from all sources, The regular amount you are paid by your employer at your job, The money you borrow that must be paid back over time, The amount left after you pay taxes

Back

The regular amount you are paid by your employer at your job

2.

FLASHCARD QUESTION

Front

What is "take-home pay"?

Back

The salary that is left after you pay taxes.

3.

FLASHCARD QUESTION

Front

Which term describes a plan you write down to decide how you will spend your money each month?

Back

Budgeting

4.

FLASHCARD QUESTION

Front

Which of the following is an example of "income"? Options: The amount you owe to someone else, The money you receive from your job, investments, and stocks, The cost of borrowing money, The amount left after taxes

Back

The money you receive from your job, investments, and stocks

5.

FLASHCARD QUESTION

Front

If you borrow money from a bank and must pay it back over time, what is this called?

Back

Loan

6.

FLASHCARD QUESTION

Front

Which statement best describes "interest" in personal finance?

Back

The cost of borrowing money or the reward for saving/investing money

7.

FLASHCARD QUESTION

Front

Would all of your salary be taxed at 12% by the U.S. government? Why or why not?

Back

No, because the U.S. uses tax brackets and only a portion is taxed at each rate.

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