Personal Finance

Personal Finance

Assessment

Flashcard

Mathematics

5th Grade

Hard

CCSS
L.2.4E, 3.OA.D.9, L.3.4D

+3

Standards-aligned

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What is the term for the money you make from your job or providing a service?

Back

Income

2.

FLASHCARD QUESTION

Front

What do you call the taxes you pay for owning land or a building?

Back

Property tax

3.

FLASHCARD QUESTION

Front

What is the term for an estimate of income and expenses over a specific period?

Back

Budget

4.

FLASHCARD QUESTION

Front

What is the term for the money you earn before taxes and deductions?

Back

Gross income

5.

FLASHCARD QUESTION

Front

What do you call the money that an employer pays to the government on behalf of an employee?

Back

Payroll taxes

6.

FLASHCARD QUESTION

Front

What is the difference between gross income and net income?

Back

Gross income is the total earnings before deductions, while net income is what you take home after taxes and deductions.

7.

FLASHCARD QUESTION

Front

What is a budget surplus?

Back

A budget surplus occurs when income exceeds expenses.

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