Financial Terms Quiz

What is a "Bill"?

• A financial plan for expenses and income

• A statement of money owed for goods or services

• A loan used to buy a house

What is a "Fee"?

• A charge for a service, such as tuition or legal advice

• The total money a company earns from sales

• A fixed amount paid for a house loan

What are "Expenses"?

• The money a company earns

• The costs of running a business or household

• A large one-time payment

What is "Revenue"?

• The money a company earns from selling goods or services

• A tax paid to the government

• A loan payment made over time

What is "Income"?

• The money a person earns from work, investments, or other sources

• A penalty fee for late payments

• A cost paid in small portions over time

What is a "Grant"?

• A loan given by the bank with interest

• A one-time financial award that doesn't need to be repaid

• A payment plan for a mortgage

What is a "Budget"?

• A financial plan that outlines expected income and spending

• The amount a person borrows from a bank

• A large payment made all at once

What is an "Installment"?

• A percentage charged by the bank on a loan

• A single large payment

• A partial payment made regularly over time

What is a "Lump sum"?

• A set amount of money paid all at once

• A repeated payment over months or years

• A monthly rent payment

What is a "Mortgage"?

• A type of loan used to buy property

• A tax on real estate

• A government grant for home improvement