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Financial Literacy TEKS 5.10

Financial Literacy TEKS 5.10

Assessment

Flashcard

Mathematics

5th Grade

Practice Problem

Hard

CCSS
7.EE.B.3, 7.RP.A.3, RF.3.3B

+15

Standards-aligned

Created by

Wayground Content

FREE Resource

Student preview

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15 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is Gross Income?

Back

Gross Income is the total amount of money earned before any deductions such as taxes or insurance.

Tags

CCSS.7.RP.A.3

2.

FLASHCARD QUESTION

Front

What is Net Income?

Back

Net Income is the amount of money a person takes home after all deductions have been made from their gross income.

3.

FLASHCARD QUESTION

Front

How do you calculate Gross Income?

Back

Gross Income is calculated by multiplying the hourly wage by the total hours worked.

Tags

CCSS.7.EE.B.3

4.

FLASHCARD QUESTION

Front

What is a deduction?

Back

A deduction is an amount that is subtracted from gross income, such as taxes or insurance premiums.

Tags

CCSS.RF.3.3B

CCSS.RF.3.3C

CCSS.RF.3.3D

CCSS.RF.4.3A

CCSS.RF.5.3A

5.

FLASHCARD QUESTION

Front

What is a paycheck?

Back

A paycheck is a document that an employer gives to an employee as payment for work done.

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

6.

FLASHCARD QUESTION

Front

What is a processing fee?

Back

A processing fee is a charge that may be added to a payment method, such as when using a check or credit card.

7.

FLASHCARD QUESTION

Front

What does it mean to have insufficient funds?

Back

Insufficient funds mean that there is not enough money in an account to cover a payment.

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