Career Prep B Final Exam

What are the different types of income

• Wages and Salaries
• Commissions 
• Interest Income
• All of the above

The cost of food is considered a ______expense.

• Fixed Payment
• Income
• Variable Expense
• Wages

_______ is a way to prepare in advance for planned purchases and to have sufficient funds on hand for unexpected expenses.

• Budget
• Expense Report
• Spending Plan
• Net Income

Possessions that generally increase in value or provide a return.

• Assets
• Liability
• Debt
• Net Worth

A debt is the same as a _____?

• Asset
• Liability

Assets-Liabilities =?

• Debt
• Interest
• Wages
• Net Worth

It is time to purchase new boots. The store offers two choices.  The first pair of high quality boots is handmade from real leather.  The high quality boots have a lifetime warranty and cost $175.  The second pair of boots is machine made from an imitation leather.  The second pair of boots does not have a lifetime warranty but only costs $65.  Which is the best value.

• High quality boots for $175.
• Imitation boots for $65.

A check is an alternative to paying with______?

• A debit card
• Cash
• A credit card

Paying with cash has a greater _________?

• Currency Value
• Spending practice
• Negotiation Power

When paying with debit cards, some accounts require an 

• Regular bill
• Additional Fee
• Credit Score
• Wages