FINANCIAL QUIZ CHALLENGE 2021
Authored by M. UPM
Social Studies
1st - 12th Grade
Used 6+ times
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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is mean by gross income?
The amount of money made after deductions are taken out
The amount of money made before deductions are taken out
Money that you collect
money that is earned as a result of work
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which definition matches Net income?
Money that is earned as a result of working
Money that you collect
The amount of money made after deductions are taken out
The amount of money made before deductions are taken out
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a budget?
Something that is hard to understand
Money that I can spend on what I want
An organized plan for spending and saving money
Limit on how much I can spend
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which definition matches income?
The amount of money made after deductions are taken out
Money that you collect
The amount of money made before deductions are taken out
money that is earned as a result of working
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are property taxes?
Money paid to the government based on money you earn
Money added to the cost of items or services
A portion of the value of properties that we own that is paid to a city or government
Money an employer withholds from an employee’s paycheck
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is sales tax?
Money an employer withholds from an employee’s paycheck
Money added to the cost of items or services
A portion of the value of items that is paid to a city or government
Money paid to the government based on money you earn
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a payroll tax?
Money paid to the government based on money you earn
Money added to the cost of items or services
A portion of the value of items that is paid to a city or government
Money an employer withholds from an employee’s paycheck
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