
Financial Literacy Vocabulary 5th
Authored by JESSICA ROSE
Mathematics
5th Grade
CCSS covered
Used 5+ times

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16 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Money paid to federal and/or state governments based on an individual's income as required by law
Gross Income
Income Tax
Net Income
Property Tax
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
The amount of money collected on the value of a property for local government
Payroll Tax
Sales Tax
Property Tax
Income Tax
Tags
CCSS.6.RP.A.3D
3.
MATCH QUESTION
15 mins • 1 pt
Match the following definitions to the correct vocabulary terms.
Check
The amount of money a company withholds from pay for the federal government
Payroll Tax
A written document telling the bank to pay a specific amount
Sales Tax
Money earned or money received
Income
Amount of money collected by a store in addition to a good or service
Net Income
Income that remains after taxes and deductions
Tags
CCSS.L.2.4E
CCSS.L.3.4D
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
4.
MATCH QUESTION
15 mins • 1 pt
Match the following to its definition.
Electronic Payment
Payments made using security features on the internet
Credit Card
Payments for goods or services
Debit Card
A monthly or yearly spending and saving plan for an individual or family
Expense
Card linked to your checking account so you can withdraw money or make purchases
Budget
A card that can be used to borrow money from a bank or a store
Tags
CCSS.RI.3.10
CCSS.RI.4.10
CCSS.RI.5.10
CCSS.RI.6.4
CCSS.RI.7.4
5.
MATCH QUESTION
15 mins • 1 pt
Match the following descriptions to the term that best applies.
Transaction
Help fund social security and medicaare
Register
When
Income=Expense
Payroll Taxes
Small table to track deposits and withdrawals and tell you your current balance
Financial Records
Formal record of transactions made by a person or business
Balanced Budget
Specific time or instance when money changes hands
Tags
CCSS.7.NS.A.1A
6.
MATCH QUESTION
15 mins • 1 pt
Match the following
Taxes/Deductions
Gross Income-Net Income=
Property Taxes
Help fund road construction,
maintenance and police/firefighters salaries
Gross Income
Helps fund roads, bridges, public libraries, parks and schools
Income Tax
Net Income +Taxes/Deductions=
Sales Tax
Helps funds education and technology
Tags
CCSS.7.NS.A.1D
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Gross Income - Taxes/Deductions=
Net Income
Gross Income
Taxes/Deductions
Tags
CCSS.7.RP.A.3
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