PFL Vocab Quiz #3

What is the term for money placed into a bank account?

• Withdrawal

• Deposit

• Loan

• Interest

What is the term for money taken out of a bank account?

• Deposit

• Withdrawal

• Interest

• Loan

What is the total income earned before any deductions?

• Net Income

• Gross Income

• Payroll Tax

• Sales Tax

What is the income remaining after all deductions have been made?

• Gross Income

• Net Income

• Sales Tax

• Property Tax

Which tax is levied on individual or corporate earnings?

• Sales Tax

• Property Tax

• Income Tax

• Payroll Tax

Which tax is deducted directly from an employee's salary?

• Sales Tax

• Payroll Tax

• Property Tax

• Income Tax

Which tax is applied to the sale of goods and services?

• Income Tax

• Property Tax

• Sales Tax

• Payroll Tax

Which tax is based on the value of real estate property?

• Sales Tax

• Property Tax

• Income Tax

• Payroll Tax

What does APR stand for in financial terms?

• Annual Payment Rate

• Annual Percentage Rate

• Annual Profit Rate

• Annual Principal Rate

What are expenses that do not change from month to month?

• Variable Expenses

• Fixed Expenses

• Discretionary Expenses

• Irregular Expenses