Financial Literacy

A definition of a financial term is shown:

A tax that includes Social Security and Medicare taxes and is paid by an employer

Which term best fits this definition?

• Property Tax

• Payroll Tax

• Sales Tax

• Income Tax

Tags

5.10.A

Which of these is NOT an example of sales tax?

• Tax paid on the value of a new shirt and pants

• Tax paid on the value of a piece of furniture a person owns

• Tax paid on the value of a piece of land a person owns

• Tax paid on the value of a new computer

Tags

5.10.A

A definition of a financial term is shown:

A tax to the federal government based on your earnings.

Which term best fits this definition?

• Property Tax

• Payroll Tax

• Sales Tax

• Income Tax

Tags

5.10.A

Susanne bought a house that was located on 2 acres. Which tax does she have to pay?

• Property Tax

• Payroll Tax

• Sales Tax

• Income Tax

Tags

5.10.A

(a)   is the total amount an employee earns before deductions are applied. ​ (b)   is the amount an employee is paid after deductions and taxes.

• Gross income
• Net income
• Property Tax
• Payroll Tax
• Income Tax

Tags

5.10.B

Darlene works 40 hours a week and earns $10 an hour.

Drag the correct words in the blanks to make the sentence true.

Her ​ (a)   is $400 and her ​​ (b)   is ​ (c)   $400.

• gross income
• less than
• net income
• more than
• equal to

Tags

5.10.B

The month Molly's expenses are greater than her income. What are two actions Molly can take in order to balance her budget?

(a)   expenses and ​ (b)   income

• decrease
• increase

Tags

5.10.E

Olivia made a list of her expenses for March. Olivia's monthly net income $3,250. How much money can Olivia place in her retirement savings to have a balanced budget?

• $450

• $350

• $2,900

• $500

Tags

5.10.F

So far this month, Penelope has the expenses and income shown on the chart. Penelope wants to buy some art supplies but also have a balanced budget. Based on Penelope's current budge, what is the greatest amount of money she can spend on art supplies?

• $135

• $30

• $20

• $25

Tags

5.10.F

Rebeca's monthly budget is shown. She receives two paychecks per month. Rebeca's budget is balanced every month. How much does Rebeca pay for utilities each month?

Mathematical Equivalence

ON

Tags

5.10.F