Financial Literacy Vocabulary Words Question Preview (ID: 55749)
Financial.
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Payroll Tax
a) a book used to record financial transactions, especially as a final record
b) a tax deduction from a paycheck that includes Social Security and Medicare taxes
c) a tax paid on retail products
d) a plan for using money, usually for a month or a yea
Gross salary
a) Total money available AFTER all deductions have been subtracted.
b) Secure money paid on the internet.
c) Total money available BEFORE all deductions are taken.
d) The exchange of money between two parties.
Net Salary/Income
a) something spent: a payment for goods or services
b) secure payment made on the internet
c) the exchange of money between two people
d) money available AFTER all deductions have been subtracted.
Transaction
a) the exchange of money between two parties
b) total money available BEFORE all deductions have been subtracted.
c) a plan for using money, usually for a month or a year.
d) something spent: a payment for goods or services
Budget
a) a budget in which your total expenses are not more than your total income.
b) a small table or chart used to track deposits added and expenses taken from an account.
c) a plan for using money, usually for a month or a year
d) something spent: a payment for goods or services.
Financial Record
a) secure payments made on the internet
b) a formal record of transactions made by an individual, business, or organization
c) a budget in which your total expenses are not more than your total income.
d) a plan for using money, usually for a month or a year
Sales Tax
a) a tax paid on retail products (goods or services): a set percentage of the cost.
b) a formal record of transactions made by an individual, business, or organization
c) a budget in which your total expenses are not more than your total income.
d) a tax paid yearly to the local government based on the value of the land and its structures.
Property taxes
a) a tax paid on retail products (goods or services): a set percentage of the cost.
b) a formal record of transactions made by an individual, business, or organization
c) a tax paid yearly to the local government based on the value of the land and its structure.
d) a plan for using money, usually for a month or a year
Balance budget
a) a plan for using money, usually for a month or a year.
b) a formal record of transactions made by an individual, business, or organization
c) money paid to the federal government based on an individuals income.
d) a budget in which your total expenses are not more than your total income.
Expenses
a) something spent: a payment for goods or services.
b) a formal record of transactions made by an individual, business, or organization
c) a budget in which your total expenses are not more than your total income.
d) a plan for using money, usually for a month or a year
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