Financial Literacy-5th Grade

A portion of the value of items.  This can be charged on items like: cars, houses, boats, or land.

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

The total tax an employer withholds to pay to the government.

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

Kathy received a paycheck for $685 after taxes and deductions. What type of income did she receive?

• Net income
• Gross income
• Payroll income
• None of the above

What statement defines gross income?

• Gross income is the amount of income after taxes are paid.
• Gross income is the amount of taxes paid.
• Gross income is the amount of income before taxes are paid
• Gross income is the amount of income of buying goods and services

Money paid to federal and/or state governments based on an individual's income as required by law

• property tax

• income tax

• payroll tax

• sales tax

Tags

CCSS.7.RP.A.3

The total amount of personal income before taxes and deductions

• Gross Income

• budget

• register

• transaction

The amount of money collected by a retail store for a good or service.

• debit card

• net income

• property tax

• sales tax

Tags

CCSS.6.RP.A.3C

The income that remains after taxes and deductions

• Net income

• Credit card

• check

• expense

The amount of money collected on the value of a property for local government

• Money

• Debit Card

• property tax

• Checking account

A monthly or yearly saving plan for an individual or a family is called a

• budget

• income

• net income

• gross income