Quest for Success - Financial Literacy

An individual's income after taking taxes and deductions into account is called...

• gross income

• net income

• income taxes

• gross expenses

What is the total amount of money being transferred into and out of a business or household?

• cost comparison

• opportunity cost

• cash flow

• cost benefit analysis

The process of comparing the price of different products and services is called

• cash flow

• cost benefit analysis

• cost comparison

• opportunity cost

_________________ means being financially sound enough to justify the extension of credit such as repayment history and credit score.

• depreciation

• inflation

• creditworthy

• budget

A/an ___________ expense is the same total amount, such as mortgage, car note, insurance and monthly bills.

• variable

• income

• depreciation

• fixed

A/an _______________ expense can change depending on the use of products or services and are somewhat unpredictable. Examples include: groceries, entertainment, medical care, pet care, or emergency situations.

• variable

• income

• depreciation

• fixed

What is money received, especially on a regular basis, for work or through investments?

• income

• expenses

• cash flow

• budget

The longer the money is invested the better?

• True

• False

Which of the following is the total amount of personal income before taxes and deductions? 

• fixed income

• variable income

• gross income

• net income

Anything that is purchased with the hope that it will generate income or be more valuable at a future date is...

• income

• investment

• expenses

• stocks