Financial Literacy
Authored by Jennifer Perez
Mathematics
1st - 5th Grade
CCSS covered
Used 5+ times
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23 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "income" refer to?
A.
Money that is borrowed from a bank
B.
Money that is earned from working
Tags
CCSS.L.2.4E
CCSS.L.3.4D
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the term "deduction" refer to?
A.
Money that is taken out of your gross income
B.
Money that is added to your gross income
Tags
CCSS.RI.1.5
CCSS.RI.2.5
CCSS.RI.3.5
CCSS.RI.4.5
CCSS.RI.5.5
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does "gross income" refer to?
A.
The amount of money earned after taxes
B.
The amount of money earned before taxes
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is "net income" ?
A.
The total amount of money spent
B.
Money made after deductions are taken out
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the gross income in the example of net pay calculation?
$2,418
$39,000
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much is deducted for Social Security tax in the example provided?
$2,418
$1,800
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the net income after all deductions in the example of net pay calculation?
$30,832.50
$39,000
Tags
CCSS.7.RP.A.3
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