Personal Financial Literacy (MCE)

Quiz
•
Mathematics
•
5th Grade
•
Hard

Richard Silva
Used 6+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is NOT an example of a property tax?
Tax paid on the value of a farm a person owns
Tax paid on the value of a piece of land a person owns
Tax paid on the value of a piece of furniture a person owns
Tax paid on the value of a home a person owns
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A definition of a financial term is show below.
A tax that includes Social Security and Medicare taxes and is paid by an employer
Which term best fits this definition?
Payroll tax
Property tax
Sales tax
Gasoline tax
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A definition of a financial term is shown below.
A tax on retail products based on a set percentage of retail cost
Which term best fits this definition?
Income tax
Payroll tax
Property tax
Sales tax
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ms. Parvin pays a tax every year because she owns a house. Which term best describes this tax?
Income tax
Payroll tax
Sales tax
Property tax
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cheyenne works 15 hours a week at the movie theater. She earns $8 an hour. Which statement about her weekly income is true?
Her net income is more than $120.
Her gross income is less than $120.
Her net income is less than $120.
Her gross income is more than $120.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these statements about gross income and net income is true?
Gross income is a tax on all income that a worker earns, and net income is a tax paid by an employer based on a worker's wages.
Gross income is a tax paid by an employer based on a worker's wages, and net income is a tax on all income that a person earns.
Gross income is the amount an employee is paid after deductions and taxes, and net income is the total amount an employee earns before deductions are applied.
Gross income is the total amount an employee earns before deductions are applied, and net income is the amount an employee is paid after deductions and taxes.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This month Mando's expenses are greater than his income. What are two actions Mando can take in order to balance his budget?
Increase expenses and decrease income
Decrease expenses and decrease income
Decrease expenses and increase income
Increase expenses and increase income
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