Personal Finance unit 2

Which is not an asset?

• next week's paycheck

• balance of checking account

• balance of savings account

• car

Consumption items, like gas, tobacco and hotel rooms are subject to this additional tax.

• income

• payroll

• excise

• property

Taxes paid on items sold in stores

• sales

• income

• payroll

• property

Taxes on items you own such as vehicles and land.

• payroll

• income

• excise

• property

Tax on earned income that supports programs like Medicare and social security

• property

• sales

• payroll

• excise

Income received from sources such as investments and are not part of your wages.

• earned income

• non-earned income

• taxes

• interest

Taxes paid on the money you earn are called:

• property

• income

• excise

• sales

Which best describes total transportation expenses on a spending plan?

• License and registration, fuel, car payment

• car payment, insurance and fuel

• depreciation on the value of a vehicle

• car payment, fuel, insurance, taxes

Which of the following is not a major expenditure category for spending plans?

• food

• housing

• credit card interest

• savings

Money earned, such as wages, allowances, and gifts is known as:

• flexible expenses

• interest

• fixed expenses

• income