Personal Finance
Flashcard
•
Mathematics
•
5th Grade
•
Hard
+3
Standards-aligned
Wayground Content
FREE Resource
Student preview

15 questions
Show all answers
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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