BR 2023-2024 Financial Literacy FINAL EXAM

Money received in payment for a job completed.

• Savings
• Cash
• Earnings
• Interest

Paper money and coins.

• Wages
• Cash
• Salary
• Income

Money paid to an employee for work done, usually given on an hourly, daily, or piecework basis.

• Wages
• Cash
• Salary
• Investment

Money set aside to use in a venture or opportunity that offers the possibility of increased value as interest, income, or worth.

• Investment
• Interest
• Earnings
• Income

Money set aside for future use, often in a bank account in which it can earn interest.

• Earnings
• Salary
• Savings
• Interest

Money earned or paid for the use of someone else’s money, such as from a bank to the holder of a savings account.

• Earnings
• Cash
• Savings
• Interest

Money received in the form of wages, salary, interest, or return on investment.

• Investment
• Income
• Earnings
• Wages

Money paid to an employee for work done, usually given bimonthly or at an annual rate, regardless of hours worked.

• Earnings
• Interest
• Cash
• Salary

Which of these is not a function of money?

• A store of value
• A way to make trade difficult
• A unit of account
• A medium of exchange

What is bartering?

• Bargaining for the best price
• Borrowing to pay off a debt
• An arrangement to pay overtime
• The exchange of goods between two people