Financial Literacy

Before taxes and deductions, Mrs. Allen's pay was $1,600. This is considered her -

• net income

• gross income

• deposits

• income tax

Mrs. Fanning bought a science kit at the store for $10. At the register, she was charged $10.85. The different between the price and what Mrs. Fanning paid is considered -

• income tax

• credit

• sales tax

• property tax

Mrs. Fanning wanted to buy a new refrigerator. A store would give her the money to buy the refrigerator, but she would need to pay the money back. This is called a -

• credit

• deposit

• withdrawal

• debit

Ms. Guillory sold some of her son's old toys and earned $56. She went to the bank and added the money to her account. She made a _________________ to her account.

• deposit

• withdrawal

• debit

• deduction

Before Mrs. Allen received her paycheck fees were taken from her check for medicare, insurance, and social security. These are ___________________ from her paycheck.

• deductions

• taxes

• withdrawals

• debits

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Mrs. Fanning was able to pay all of her bills with the money she was earning. This means she had a -

• balanced budget

• net income

• gross income

• property bill

Mrs. Allen paid $3,678 every year as a tax on her house. This is considered a -

• sales tax

• income tax

• property tax

• home tax

Amanda has to pay taxes on her annual salary and investments. Which type of tax is Kimberly paying? 

• Sales Tax
• Property Tax
• Payroll Tac
• Income Tax

Tags

CCSS.L.4.6

CCSS.RI.5.4

CCSS.W.4.2D

CCSS.W.5.2D

CCSS.W.6.2D

Alyssa has her first job at the local bakery. After working for one week, she received her first paycheck. The total amount of money she is able to put in the bank is $75.62. What type of income does this amount describe?

• Gross Income
• Net Income
• Both Gross and Net Income
• None of the above

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Jonathan's new clothes cost a total of $572.50 before tax. What type of tax does Jonathan have to pay for his new clothes?

• Income Tax
• Property Tax
• Payroll Tax
• Sales Tax

Tags

CCSS.L.4.6

CCSS.L.6.6

CCSS.RI.5.4

CCSS.W.4.2D

CCSS.W.5.2D