Financial Literacy

A deduction is

• gross income

• money added to your income

• net income

• money taken out of your income

Gross income is:

• the total amount of money you earn

• the amount of money you receive after decuctions are subtracted

• the total amount of money you spend

• sales taxes on items you buy

Tags

CCSS.7.RP.A.3

Net income is:

• the total amount of money you earn

• the amount of money you receive after deductions are subtracted from your gross income

• the amount of money that is taken away in the form of taxes

• the hourly rate of pay

Tags

CCSS.7.RP.A.3

Which word of phrase should be at the top of the left column of this budget?

• Cash flow

• Fixed costs

• Income

• Savings

Tags

CCSS.6.NS.B.3

Lola is saving for a vacation. Based on the budget numbers here, how much can she put in her vacation account this month?

• $32.00

• $48.00

• $112.00

• $128.00

Tags

CCSS.6.NS.B.3

Jared bought a new boat. He had to pay which kind of tax on his new boat? 

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

The cost for the new Fallout 4 game is $59.99, but the cashier asked for more money, because of a tax.  What type of tax is this? 

• Income
• Property
• Payroll
• Sales

Tags

CCSS.6.RP.A.3D

Mr. Keen earns $4,350 each month.  However when he gets his paycheck it is always less than $4,350, because taxes have been taken out of his paycheck.  What type of tax is this?

• Income
• Property
• Payroll
• Sales

Tags

CCSS.7.RP.A.3

CCSS.7.RP.A.2

This is a tax on retail items 

• Income
• Property
• Payroll
• Sales

Tags

CCSS.6.RP.A.3D

Mr. Carrier is starting his own business.  He will hire 12 people.  He will have to take taxes out of each persons paycheck to pay the government.  What type of tax is this?

• Income
• Property
• Payroll
• Sales

Tags

CCSS.RI.4.5

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5