PFL Vocabulary Review

Money you receive after taxes is called:

• gross income
• net income
• salary
• pay day

Money you receive before taxes is called:

• gross income
• net income
• pay day
• bank loan

Expenses that change from month to month are called:

• fixed expenses (bills, loans, etc)
• variable expenses (emergency costs, vacations, car repairs, etc)
• stable pricing
• irrational pricing

When you own a house, what type of tax do you pay on it?

• income tax
• sales tax
• property tax
• payroll tax

What type of tax do you pay for Cheetos and soda?

• income tax
• sales tax
• property tax
• payroll tax

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Which type of tax do you pay once a year on any money you've earned (job, lottery, etc)?

• payroll tax
• income tax
• sales tax
• property tax

Which type of tax is taken directly out of your paycheck?

• payroll tax
• income tax
• paycheck tax
• sales tax

Tags

CCSS.7.RP.A.3

Which of the following is considered a "need" when budgeting?

• money for eating out
• money for going to the movies
• money to pay for your house
• money for your dog's toys

Tags

CCSS.4.MD.A.2

What is a machine that allows bank customers to deposit or withdraw money without visiting their bank?

• ATM (automated teller machine)
• credit card
• safe deposit box
• coffee can under your bed

What is the current amount of money in your bank account called?

• balance
• debt
• withdrawl
• payment

Tags

CCSS.6.NS.C.5