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Michael wants to develop a spending plan for himself to use during his final year of high school. What will he need to do as his first step?
Track his current income and expenses—if he has already created an Income and Expense Statement then this step is done.
Payroll taxes fund the Social Security and Medicare programs.
Maggie, because her net worth is higher than Samantha’s.
the balance on his credit card
apply for a debit card
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
The property tax rate is set by the federal government to be equal in every state.
Spending plans are always under revision so they are never complete.
Which statement is not true about property taxes?
Track his current income and expenses—if he has already created an Income and Expense Statement then this step is done.
Payroll taxes fund the Social Security and Medicare programs.
Maggie, because her net worth is higher than Samantha’s.
the balance on his credit card
apply for a debit card
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
The property tax rate is set by the federal government to be equal in every state.
Spending plans are always under revision so they are never complete.
Jonah is writing down his liabilities to complete his Statement of Financial Position. The item he should include would be:
Track his current income and expenses—if he has already created an Income and Expense Statement then this step is done.
Payroll taxes fund the Social Security and Medicare programs.
Maggie, because her net worth is higher than Samantha’s.
the balance on his credit card
apply for a debit card
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
The property tax rate is set by the federal government to be equal in every state.
Spending plans are always under revision so they are never complete.
Which statement is true about payroll taxes?
Track his current income and expenses—if he has already created an Income and Expense Statement then this step is done.
Payroll taxes fund the Social Security and Medicare programs.
Maggie, because her net worth is higher than Samantha’s.
the balance on his credit card
apply for a debit card
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
The property tax rate is set by the federal government to be equal in every state.
Spending plans are always under revision so they are never complete.
Samantha wants to be able to use funds in her checking account but finds going to the bank to withdraw cash to be inconvenient. She would like a more effective way to access her checking account funds. What would you suggest she do?
Track his current income and expenses—if he has already created an Income and Expense Statement then this step is done.
Payroll taxes fund the Social Security and Medicare programs.
Maggie, because her net worth is higher than Samantha’s.
the balance on his credit card
apply for a debit card
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
The property tax rate is set by the federal government to be equal in every state.
Spending plans are always under revision so they are never complete.
Maggie earns $62,000 per year and has a net worth of $20,000. Samantha earns $96,000 and has a net worth of $15,000. Who is wealthier?
Track his current income and expenses—if he has already created an Income and Expense Statement then this step is done.
Payroll taxes fund the Social Security and Medicare programs.
Maggie, because her net worth is higher than Samantha’s.
the balance on his credit card
apply for a debit card
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
The property tax rate is set by the federal government to be equal in every state.
Spending plans are always under revision so they are never complete.
On Andy's Income and Expense Statement where should he record his expenses?
Track his current income and expenses—if he has already created an Income and Expense Statement then this step is done.
Payroll taxes fund the Social Security and Medicare programs.
Maggie, because her net worth is higher than Samantha’s.
the balance on his credit card
apply for a debit card
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
The property tax rate is set by the federal government to be equal in every state.
Spending plans are always under revision so they are never complete.
When is your spending plan complete?
Track his current income and expenses—if he has already created an Income and Expense Statement then this step is done.
Payroll taxes fund the Social Security and Medicare programs.
Maggie, because her net worth is higher than Samantha’s.
the balance on his credit card
apply for a debit card
Taxes deducted from his paycheck, money saved from his paycheck for emergencies, and his car insurance
The property tax rate is set by the federal government to be equal in every state.
Spending plans are always under revision so they are never complete.
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