Money, Budget, Methods of payment Test

Which type of expenses are these, rent, car payment?

• Crazy bills
• Variable expense
• Fixed expense

Which type of expenses are these, rent, car payment?

• Crazy bills
• Variable expense
• Fixed expense

Which is an example of a variable expense?

• car payment
• mortgage
• electricity bill

money earned or received

• Expenses
• Income
• Deductions
• Check

Mrs. Allen had to pay the government $234 from her paycheck. She paid -

• income tax

• sales tax

• payroll tax

• property tax

____________ is a regular fixed payment that a person earns for performing work during a specific period of time.

• saving

• expenses

• bonus

• salary

This is a plan for what will be done with the money a person has on hand.

• Monthly Income

• Budget

• Balanced Budget

• Allocated Funds

This is money going out of your budget to pay for bills, food, and all other purchases

• Utilities

• Allocated Funds

• Expenses

• Monthly Income

The amount of income that is remaining AFTER taxes and other withholdings are substracted out. Also known as your BRING HOME pay.

• Monthly Income

• Gross Income

• Withholdings

• Net Pay

This is the amount of money you make each month before money is taken out for taxes, retirement, and savings

• Monthly Income

• Gross Income

• Withholdings

• Net Pay