Biz 8 Intro To Biz Personal Finance Review I: Question Preview (ID: 21301)

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T/F Budgeting will help you have extra money for unexpected expenses.
a) True b) False c) d)
Accounting for how much money you'll have after necessary expenses is:
a) Fiscal Responsibility b) Budgeting c) Financing d) None of the Above
Income that you have left over after taxes, bills, and other necessary expenses is called ______ income.
a) disposable b) saving c) interst d) taxable
T/F It is impossible to lower your taxes.
a) True b) False c) d)
Taxes are ______.
a) The government's way of raising funds. b) Need to be paid. c) Usually go up as your income goes up. d) All of the Above
Retirement tax is known as:
a) State Tax b) Federal Tax c) Social Security Tax d) Health Insurance
Why is it easier for you to start saving money now rather than when you have kids?
a) Because you make more now b) Because you don't have credit c) Because you don't have to spend money on kids d) Because you make less now
Once you are married, your family income will usually:
a) Go up b) Go down c) Stay the same d)
If you and your friend graduate with the same degree. The town you live in doesn't have anyone who can do your job and your friend lives in a town with lots of people who can do his job. Based on this, who should be paid more?
a) Your Friend b) You c) d)
Which of the following is earned income?
a) wages b) ownership c) investment d) rental properties
Extending your education beyond high school will cause your income to go?
a) Up b) Down c) Stay d) Drastically go Up
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