Semester 1 Review (Business Math)
Flashcard
•
Mathematics
•
12th Grade
•
Practice Problem
•
Easy
Standards-aligned
Wayground Content
Used 2+ times
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15 questions
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1.
FLASHCARD QUESTION
Front
What is a fixed expense?
Back
A fixed expense is a cost that does not change regardless of the level of goods or services produced or sold. Examples include rent, car payments, and insurance premiums.
2.
FLASHCARD QUESTION
Front
What is a variable expense?
Back
A variable expense is a cost that varies in amount and type, depending on the activity level. Examples include entertainment, groceries, and utility bills.
3.
FLASHCARD QUESTION
Front
What is a 403b plan?
Back
A 403b plan is a retirement savings plan for certain employees of public schools and tax-exempt organizations, allowing them to save money on a tax-deferred basis.
Tags
CCSS.7.RP.A.3
4.
FLASHCARD QUESTION
Front
What is a budget?
Back
A budget is a financial plan that outlines expected income and expenses over a specific period, helping individuals manage their finances effectively.
5.
FLASHCARD QUESTION
Front
What are the features of a credit card?
Back
Credit cards allow users to borrow money to make purchases, build a credit score through timely payments, and incur late fees for missed payments.
6.
FLASHCARD QUESTION
Front
What is the purpose of a savings account?
Back
A savings account is a deposit account held at a financial institution that provides a modest interest rate, allowing individuals to save money while earning interest.
Tags
CCSS.5.NBT.A.2
7.
FLASHCARD QUESTION
Front
What is the difference between a debit card and a credit card?
Back
A debit card withdraws money directly from a checking account, while a credit card allows users to borrow money up to a certain limit to make purchases.
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