Finance Park Review

When making a budget what is used to plan it?

• Net Monthly Income

• Gross annual income

• Net annual income

• Gross monthly income

This tax is primarily a state tax that covers anything that is bought. (Not all states have it, Oregon and Delaware are examples of not having it)

• Federal income tax
• Property tax
• Estate tax
• Sales tax

This national tax is paid to provide health insurance to the elderly.

• Unemployment tax
• Sales tax

• Medicare tax
• Social Security tax

Another word for gross annual income would be

• Paycheck

• Salary

• Tax return

• Saving accounts

Which of the following is a tax used to give most people a retirement plan from the national government?

• Social Security tax
• Medicare tax

• Sales tax
• Property tax

This tax is a local tax which is the primary way local schools are funded

• Estate tax
• Income tax
• Sales tax
• Property tax

Why do we pay taxes?

• To fund public services and goods

• To fund private businesses
• To burden the citizens
• To make the government richer

This type of payment for goods and services is buy now, pay later option

• Credit card

• Debit Card

• Cash

• Check

This payment option for goods and services is buy now pay now

• Mortgage

• Debit Card

• Personal Loan

• Credit card

A budget is would be be described as...

• Your credit card bill at the end of the month.

• An estimate of income vs expenses (spending) for a set period of time.

• The price of your insurance for the year.

• Your checking account after a pay day