Budget Vocabulary Quiz #2

A document that summarizes an employee's deductions and taxes is

• Gross Pay

• Net Pay

• Pay Stub

• Income Tax

The sum of all cash payments made by the government to provide goods & services.

• Government Spending

• Net Pay

• Pay Stub

• Gross Pay

What is a tax levied by a government directly on income?

• Expenses

• Income Tax

• Income

• Government Spending

The amount of money left over after subtracting spending & other obligations.

• Bills

• Gross Pay

• Pay Stub

• Savings

The total amount of money an employer gives to an employee or contractor after deductions.

• Gross Pay

• Net Pay

• Pay Stub

• Expenses

What is an estimate of income and expenditure for a set period of time?

• Income

• Needs

• Budget

• Wants

What are things that people have a desire to possess or do?

• Wants

• Bills

• Income

• Expenses

What is the money received on a regular basis for work or through investment?

• Expenses

• Income Tax

• Needs

• Income

What is the amount of money as employer gives to an employee or contractor after deductions?

• Net Pay

• Pay Stub

• Gross Pay

• Allowance

This is money given to someone regularly or for a specific purpose.

• Pay Stub

• Allowance

• Net Pay

• Savings