Financial Literacy Vocabulary Question Preview (ID: 62598)
Vocabulary Terms For 5th Grade Financial Literacy.
TEACHERS: click here for quick copy question ID numbers.
The exchange of money between two parties
a) Transaction
b) Budget
c) Debit Card
d) Income
Money available AFTER all deductions are taken
a) Gross Salary
b) Net Salary
c) Income Tax
d) Expenses
Total money available BEFORE all deductions are taken
a) Net Salary
b) Payroll Tax
c) Gross Salary
d) Budget
A tax deducted from a paycheck that includes Social Security and Medicare taxes
a) Income Tax
b) Sales Tax
c) Property Tax
d) Payroll Tax
A plan for using money, usually for a month or a year
a) Budget
b) Expenses
c) Transaction
d) Income
Secure payment made on the internet
a) Debit Card
b) Income
c) Electronic Payment
d) Balanced Budget
Money paid to the federal government based on an individual's income
a) Expenses
b) Income Tax
c) Electronic Payment
d) Income
A card used to pay for goods or services where the money is immediately taken from the cardholder's bank account
a) Credit Card
b) Income Tax
c) Expenses
d) Debit Card
A card used where you buy things on credit and pay it back
a) Credit Card
b) Debit Card
c) Electronic Payment
d) Budget
A tax paid on retail products (goods or services); a set percentage of the cost
a) Property Tax
b) Gross Salary
c) Sales Tax
d) Payroll Tax
A tax paid yearly to the local government based on the value of the land and its structures
a) Sales Tax
b) Property Tax
c) Income Tax
d) Payroll Tax
A budget in which your total expenses are equal to your total income
a) Balanced Budget
b) Electronic Payment
c) Transaction
d) Net Salary
Something spent; a payment for goods or services
a) Budget
b) Income
c) Net Salary
d) Expenses
money earned or received
a) Credit Card
b) Income
c) Payroll Tax
d) Expenses
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