MATH 7 QUIZ

The rate of the value-added tax in the Philippines

It means that there is more money moving in than moving out.

It means that your assets are higher than your liabilities. In short, you own more than you owe.

It is a document that contains a person’s financial situation, financial goals, and strategies.

It is any resource that a person owes.

It is a measure of a person’s financial health. It is the value of the assets minus the value of the liabilities.

It is any resource with monetary value that a person owns.

The formula for calculating the simple interest is given by I = P × r × t.

• TRUE

• FALSE

A sales tax is a tax imposed by the government on the sale of goods and services.

• TRUE

• FALSE

Simple interest is the amount of money borrowed or invested.

• TRUE

• FALSE