Financial Literacy Assessment

What is surplus?

• taxes

• making more than you spend

• spending more than you make

• payments you make on bills

What is a deficit?

• taxes

• making more than you spend

• spending more than you make

• payments you make on bills

Tags

CCSS.6.NS.C.5

What kind of income is how much you earn before taxes and insurance?

• Gross Income

• Savings

• Interest

• Net Income

What kind of income is how much you earn after taxes and insurance?

• Gross Income

• Savings

• Interest

• Net Income

Which is an example of an expense that can be taken out of your budget?

• Car payment

• Grocercies

• Rent

• PS5

Why is it important to save money?

• To spend more on luxury items

• To have funds available for future needs or emergencies

• To lend money to friends

• To pay more taxes

What is a budget?

• A plan for making and spending money

• A detailed report of past expenses

• A loan request form

• A wish list of items to buy

Paying their teachers through direct deposit is an example of what kind of payment?

• credit card

• EFT

• cash

• check

Filling out a _____ with the date, name, and amount is what kind of payment?

• credit card

• EFT

• cash

• check

Paying a little bit more when making a purchase at the book fair is what kind of tax?

• Sales

• Property

• Income

• Payroll