What is the main difference between gross income and net income?

Financial Literacy Quiz

Quiz
•
Financial Education
•
9th Grade
•
Medium
Bassant Elassal
Used 8+ times
FREE Resource
15 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross income is revenue after expenses; net income is total revenue.
Gross income is total revenue; net income is revenue after all expenses are deducted.
Gross income includes passive income; net income does not.
Gross income is net income minus variable expenses.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT an example of a fixed expense?
Rent
Salaries
Raw materials
Insurance
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why is it important to create an emergency fund as part of a financial plan?
To invest in long-term projects
To cover regular monthly expenses
To have funds available for unexpected situations
To allocate for marketing campaigns
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does positive cash flow mean for a business?
The business is experiencing higher expenses than revenue.
The business is paying off debts faster than expected.
The business has more cash coming in than going out.
The business is generating cash only through loans.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
List two strategies a business can use to optimize cash flow and explain why they are effective.
Increase expenses and reduce sales
Delay payments and increase inventory
Speed up receivables and manage payables
Invest in long-term assets and reduce marketing
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Explain the importance of setting SMART goals in financial planning.
They are vague and hard to measure.
They provide a clear and structured approach.
They focus only on short-term gains.
They are irrelevant to financial success.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An investment portfolio should only include one type of asset to minimize risk.
True
False
Depends on the market
Only for short-term investments
Create a free account and access millions of resources
Similar Resources on Wayground
20 questions
Managing Credit - Unit 5

Quiz
•
9th - 12th Grade
15 questions
Budgeting Terms Quiz

Quiz
•
9th Grade
15 questions
Credit Card Vocabulary Heads Up Quiz

Quiz
•
7th Grade - University
15 questions
Money Mapping

Quiz
•
9th - 12th Grade
20 questions
Budgeting Unit Review

Quiz
•
9th - 12th Grade
15 questions
Savings & Loans

Quiz
•
9th - 12th Grade
16 questions
Budgeting - Outcome Assessment

Quiz
•
9th - 12th Grade
20 questions
Module 02: Review

Quiz
•
9th - 12th Grade
Popular Resources on Wayground
25 questions
Equations of Circles

Quiz
•
10th - 11th Grade
30 questions
Week 5 Memory Builder 1 (Multiplication and Division Facts)

Quiz
•
9th Grade
33 questions
Unit 3 Summative - Summer School: Immune System

Quiz
•
10th Grade
10 questions
Writing and Identifying Ratios Practice

Quiz
•
5th - 6th Grade
36 questions
Prime and Composite Numbers

Quiz
•
5th Grade
14 questions
Exterior and Interior angles of Polygons

Quiz
•
8th Grade
37 questions
Camp Re-cap Week 1 (no regression)

Quiz
•
9th - 12th Grade
46 questions
Biology Semester 1 Review

Quiz
•
10th Grade