Personal Finance Vocabulary Flashcard
Flashcard
•
Mathematics
•
12th Grade
•
Practice Problem
•
Hard
+7
Standards-aligned
Wayground Content
FREE Resource
Student preview
15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is an Asset?
Back
An asset is anything of value or a resource owned by an individual or entity that can provide future economic benefits.
2.
FLASHCARD QUESTION
Front
What is a Liability?
Back
A liability is a financial obligation or debt that an individual or entity owes to another party.
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
3.
FLASHCARD QUESTION
Front
What is Gross Income?
Back
Gross income is the total amount of money earned before any deductions or taxes are taken out.
4.
FLASHCARD QUESTION
Front
What is Net Income?
Back
Net income is the total amount of money earned after all deductions, taxes, and expenses have been subtracted.
5.
FLASHCARD QUESTION
Front
What is a Tax Return?
Back
A tax return is a form filed with the government to report income, expenses, and other tax information.
6.
FLASHCARD QUESTION
Front
What is Revolving Credit?
Back
Revolving credit is a type of credit that allows borrowers to repeatedly borrow against a credit line and pay it off without applying for a new loan.
Tags
CCSS.L.11-12.4C
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
7.
FLASHCARD QUESTION
Front
What is a Credit Score?
Back
A credit score is a numerical representation of a person's creditworthiness, based on their credit history.
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