WISE TEST REVIEW
Quiz
•
Business
•
11th Grade
•
Practice Problem
•
Medium
Peyton Anderson
Used 50+ times
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61 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What gives fiat money its value in the United States?
Confidence in the U.S. government
The amount of gold backing it
Support from other countries
Its use in other countries
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate a person’s net worth?
Subtract liabilities from assets
Add income and expenses
Multiply savings by income
Subtract taxes from gross income
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a liability?
A car you own
Money in a savings account
A student loan
A paid-off house
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does depreciation mean?
A decrease in the value of an asset over time
An increase in bank interest
Paying off a loan early
Earning more income than last year
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a SMART financial goal?
Save $500 for a new phone in 4 months
Become rich fast
Save whenever possible
Spend less on fun stuff
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is an example of a fixed expense?
Groceries
Gasoline
Rent
Entertainment
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is net income?
Total pay before taxes
Money earned before deductions
Take-home pay after taxes and deductions
Income from a side job
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