Entrepreneurial Expedition

Which of the following is an example of a tax you must pay?

• Bounced Check

• Late Fee

• Rental Payment

• Social Security

Which of the following is a variable expense?

• Student loan payments

• Rental Payments

• Groceries

• Health Insurance

Which of the following is NOT a fixed expense?

• Rental Payments

• Movie Tickets

• Cell Phone Bill

• Internet Service

Which of the following is a fixed expense?

• Clothing Purchases

• Rental Payments

• Movie Tickets

• Groceries

What is income?

• Income is payments you make to the federal government.

• Income is money you receive after paying taxes.

• Income is payments you make to the government to pay for roads, bridges, and schools.

• Income is money you earn, usually from working at a job.

Which of the following would be an example of a NEED?

• A warm winter coat

• Designer shoes

• Your favorite candy

• A new pair of headphones

Which of the following would be an example of a WANT?

• A place to live

• Critical medicine

• A warm winter coat

• Movie tickets

What is a variable expense?

• An expense that is the same during some months, and different during other months.

• An expense that is the same from month to month

• An expense that is different from month to month

• None of the above

What is a fixed expense?

• An expense that is the same during some months, and different during other months.

• An expense that typically does not change month to month,

• An expense that varies from month to month.

• None of the above.

What is take home pay?

• The amount you earn each month in income minus what you save.

• The amount you earn each month in income minus what you spend.

• The amount left over from your monthly paycheck before deductions.

• The amount left over from your monthly paycheck after deductions.