Chapter 4 Vocabulary

What is the money earned before deductions?

• Net Pay

• Gross Pay

• Deduction

Tags

CCSS.6.NS.B.3

What is the term for money received after deductions?

• Gross Pay

• Tax

• Net Pay

Tags

CCSS.6.RP.A.3B

What is the term for money taken from gross pay for taxes and health insurance?

• Exemption

• Deduction

• Withheld

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

What does "withheld" mean in a salary?

• Money added to a salary

• Money kept out from a salary

• Money saved in a bank

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4

What is the purpose of a tax?

• To pay to the government

• To save for retirement

• To invest in stocks

What does an exemption reduce?

• Gross pay

• Net pay

• Income tax

What does an earnings statement include?

• Gross pay

• Net pay

• Gross pay, deductions, and net pay

• Deductions

What is the money a bank pays you for keeping your money there called?

• Interest

• Deduction

• Exemption

What does a W-2 Form show?

• Your monthly expenses

• Your income for a year

• Your savings account balance

What is a credit union?

• Tax form

• Savings and loan business

• Retirement plan

Tags

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

CCSS.RI.9-10.4