FINANCIAL QUIZ CHALLENGE 2021

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

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

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

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

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

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

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

What are income taxes?

• Money an employer withholds from an employee’s paycheck

• 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

• Money added to the cost of items or services

A deposit is money ______ your bank account. Select all that apply.

• taken out of

• put into

• save into

A withdrawal is money ________ of your bank account

• put into

• taken out