Shroutrageous Income and Saving
Flashcard
•
Social Studies
•
7th Grade
•
Practice Problem
•
Hard
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17 questions
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1.
FLASHCARD QUESTION
Front
The total amount of earnings made over a month, after any deductions, is known as
Back
Net monthly income
2.
FLASHCARD QUESTION
Front
The total amount of earnings made over a month, before any deductions, is known as
Back
Gross monthly income
3.
FLASHCARD QUESTION
Front
True or false: One of the most important reasons to save is to be able to pay for unexpected expenses.
Back
True
4.
FLASHCARD QUESTION
Front
Marina has a job working at Moe's. She is paid $7.00 an hour. What is NOT true about her paycheck? Options: She will have deductions taken from for taxes, It is income, because it's money earned for labor., It is wages, because it's paid hourly., It earns her a credit card because she now has credit.
Back
It earns her a credit card because she now has credit.
5.
FLASHCARD QUESTION
Front
What is the term for the amount of money left after all deductions are made from a paycheck?
Back
Net pay
6.
FLASHCARD QUESTION
Front
Which of the following is NOT considered a deduction from your paycheck? Overtime pay, Retirement contributions, Health insurance premiums, Federal taxes
Back
Overtime pay
7.
FLASHCARD QUESTION
Front
True or false: Saving money can help you achieve long-term financial goals.
Back
True
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