Quiz about Financial Literacy Vocabulary

Question 1

Fixed Expense

Accepted Answer

a cost that stays the same monthly.

Answer

how much you're selling something for

Answer

to put some money in your bank account

Answer

how much you're selling something for

Question 2

Savings

Accepted Answer

the money you have kept for the future or for something you want or for future like a home

Answer

A plan for your spending when your income is equal to your expenses.

Answer

The extra money you have to pay back when you are borrowing.

Answer

A plan for your spending when your income is equal to your expenses.

Question 3

Variable Expense

Accepted Answer

a cost that does not stay the same, it varies month to month, like the cost of things like gas

Answer

a plan for your spending

Answer

when you borrow money from someone and the loan is the money you pay back. You pay the amount you borrowed plus interest .

Answer

a plan for your spending

Question 4

Borrow

Accepted Answer

getting a loan or getting something for a short period of time and then paying it back

Answer

A piece of paper that you can pay large amounts of money with.

Answer

paying for something

Answer

A piece of paper that you can pay large amounts of money with.

Question 5

Deposit

Accepted Answer

to put some money in your bank account

Answer

a card that is not connected to your money, but you borrow money from other people's money, after you borrow, you have to pay them back the money you borrowed, and sometimes pay a interest.

Answer

taking money out of your account

Answer

a card that is not connected to your money, but you borrow money from other people's money, after you borrow, you have to pay them back the money you borrowed, and sometimes pay a interest.

Question 6

Interest

Accepted Answer

The extra money you have to pay back when you are borrowing.

Answer

a card that has connection to your money, you are not borrowing money; when you use a debit card to buy something, you need to have the cost of the item inside you account.

Answer

how much money it takes to buy something

Answer

a card that has connection to your money, you are not borrowing money; when you use a debit card to buy something, you need to have the cost of the item inside you account.

Question 7

Lending/Loan

Accepted Answer

when you borrow money from someone and the loan is the money you pay back. You pay the amount you borrowed plus interest .

Answer

A payment that you do online

Answer

a good or service that you have to pay for

Answer

A payment that you do online

Question 8

Spending/Spent

Accepted Answer

paying for something

Answer

A record of what, when, and how much you spent and your current balance

Answer

the amount a person or a business makes after taking out expenses

Answer

A record of what, when, and how much you spent and your current balance

Question 9

Withdrawal

Accepted Answer

taking money out of your account

Answer

Money you have left after taxes

Answer

how much you're selling something for

Answer

Money you have left after taxes

Question 10

Cost

Accepted Answer

how much money it takes to buy something

Answer

income is how much you get from something like a job, money as a gift, or winning the lottery

Answer

A plan for your spending when your income is equal to your expenses.

Answer

income is how much you get from something like a job, money as a gift, or winning the lottery

Question 11

Expense

Accepted Answer

a good or service that you have to pay for

Answer

to subtract an amount of money

Answer

a plan for your spending

Answer

A piece of paper that you can pay large amounts of money with.

Question 12

Profit

Accepted Answer

the amount a person or a business makes after taking out expenses

Answer

A worker that someone hired.

Answer

A worker that someone hired.

Answer

a card that is not connected to your money, but you borrow money from other people's money, after you borrow, you have to pay them back the money you borrowed, and sometimes pay a interest.

Question 13

Selling Price

Accepted Answer

how much you're selling something for

Answer

A person that hires workers.

Answer

A person that hires workers.

Answer

a card that has connection to your money, you are not borrowing money; when you use a debit card to buy something, you need to have the cost of the item inside you account.

Question 14

Balanced Budget

Accepted Answer

A plan for your spending when your income is equal to your expenses.

Answer

the income (also, known as revenue) or the money you get before subtracting your costs and taxes.

Answer

the income (also, known as revenue) or the money you get before subtracting your costs and taxes.

Answer

A payment that you do online

Question 15

Budget

Accepted Answer

a plan for your spending

Answer

a cost that stays the same monthly.

Answer

A tax charged by the government based on a percentage of the money you make. Due every April.

Answer

A record of what, when, and how much you spent and your current balance

Question 16

Check

Accepted Answer

A piece of paper that you can pay large amounts of money with.

Answer

the money you have kept for the future or for something you want or for future like a home

Answer

the tax your employer takes off your paycheck to pay the employer's taxes

Answer

Money you have left after taxes

Question 17

Credit Card

Accepted Answer

a card that is not connected to your money, but you borrow money from other people's money, after you borrow, you have to pay them back the money you borrowed, and sometimes pay a interest.

Answer

a cost that does not stay the same, it varies month to month, like the cost of things like gas

Answer

the tax you have to pay based on the value of land that you own, like your house

Answer

income is how much you get from something like a job, money as a gift, or winning the lottery

Question 18

Debit Card

Accepted Answer

a card that has connection to your money, you are not borrowing money; when you use a debit card to buy something, you need to have the cost of the item inside you account.

Answer

getting a loan or getting something for a short period of time and then paying it back

Answer

The tax that the government charges when buy something from a store. (usually not chared for food items)

Answer

to subtract an amount of money

Question 19

Electronic Payment

Accepted Answer

A payment that you do online

Answer

to put some money in your bank account

Answer

The money you get from work.

Answer

A worker that someone hired.

Question 20

Financial Records

Accepted Answer

A record of what, when, and how much you spent and your current balance

Answer

The extra money you have to pay back when you are borrowing.

Answer

a cost that stays the same monthly.

Answer

A person that hires workers.

Question 21

Net Income

Accepted Answer

Money you have left after taxes

Answer

when you borrow money from someone and the loan is the money you pay back. You pay the amount you borrowed plus interest .

Answer

the money you have kept for the future or for something you want or for future like a home

Answer

the income (also, known as revenue) or the money you get before subtracting your costs and taxes.

Question 22

Income

Accepted Answer

income is how much you get from something like a job, money as a gift, or winning the lottery

Answer

paying for something

Answer

a cost that does not stay the same, it varies month to month, like the cost of things like gas

Answer

the tax your employer takes off your paycheck to pay the employer's taxes

Question 23

Deduction

Accepted Answer

to subtract an amount of money

Answer

taking money out of your account

Answer

getting a loan or getting something for a short period of time and then paying it back

Answer

the tax you have to pay based on the value of land that you own, like your house

Question 24

Employee

Accepted Answer

A worker that someone hired.

Answer

how much money it takes to buy something

Answer

paying for something

Answer

The tax that the government charges when buy something from a store. (usually not chared for food items)

Question 25

Employer

Accepted Answer

A person that hires workers.

Answer

a good or service that you have to pay for

Answer

taking money out of your account

Answer

The money you get from work.

Question 26

Gross Income

Accepted Answer

the income (also, known as revenue) or the money you get before subtracting your costs and taxes.

Answer

the amount a person or a business makes after taking out expenses

Answer

how much money it takes to buy something

Answer

A tax charged by the government based on a percentage of the money you make. Due every April.

Question 27

Income Tax

Accepted Answer

A tax charged by the government based on a percentage of the money you make. Due every April.

Answer

income is how much you get from something like a job, money as a gift, or winning the lottery

Answer

a good or service that you have to pay for

Answer

a cost that stays the same monthly.

Question 28

Payroll Tax

Accepted Answer

the tax your employer takes off your paycheck to pay the employer's taxes

Answer

to subtract an amount of money

Answer

the amount a person or a business makes after taking out expenses

Answer

the money you have kept for the future or for something you want or for future like a home

Question 29

Property Tax

Accepted Answer

the tax you have to pay based on the value of land that you own, like your house

Answer

A worker that someone hired.

Answer

how much you're selling something for

Answer

a cost that does not stay the same, it varies month to month, like the cost of things like gas

Question 30

Sales Tax

Accepted Answer

The tax that the government charges when buy something from a store. (usually not chared for food items)

Answer

A person that hires workers.

Answer

A plan for your spending when your income is equal to your expenses.

Answer

getting a loan or getting something for a short period of time and then paying it back

Question 31

Wages

Accepted Answer

The money you get from work.

Answer

the income (also, known as revenue) or the money you get before subtracting your costs and taxes.

Answer

a plan for your spending

Answer

to put some money in your bank account

Question 32

Balance

Accepted Answer

The amount of money a person currently has in their account.

Answer

A payment that you do online

Answer

Money you have left after taxes

Answer

A person that hires workers.

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