Review Unit 16

Review Unit 16

Assessment

Flashcard

Mathematics

5th Grade

Hard

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15 questions

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1.

FLASHCARD QUESTION

Front

What is a budget?

Back

A budget is a plan that outlines how much money you have and how you plan to spend it.

2.

FLASHCARD QUESTION

Front

What is entertainment in a budget?

Back

Entertainment refers to the money allocated for leisure activities, such as movies, games, or outings.

3.

FLASHCARD QUESTION

Front

What is gross income?

Back

Gross income is the total amount of money earned before any deductions, such as taxes or retirement contributions.

4.

FLASHCARD QUESTION

Front

What is net income?

Back

Net income is the amount of money left after all deductions have been taken from gross income.

5.

FLASHCARD QUESTION

Front

What is a monthly expense?

Back

A monthly expense is a recurring cost that occurs every month, such as rent, groceries, or utilities.

6.

FLASHCARD QUESTION

Front

How can you balance a budget?

Back

You can balance a budget by ensuring that your total expenses do not exceed your total income.

7.

FLASHCARD QUESTION

Front

What is sales tax?

Back

Sales tax is a tax added to the price of goods and services, usually calculated as a percentage of the sale price.

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