Unit 2: Income and Budgeting

Money received from stocks and shares is called

• Royalties

• Capital gains

• Dividends

• Wages

Tips earned at a restaurant job are considered

• Income

• Capital gains

• Dividends

• Royalties

A required retirement-type benefit, set at 6.2%, that both employer and employee must contribute to

• Workers compensation

• Medicare

• Medicaid

• Social security

This type of benefit allows people to buy partial ownership in a company, often at a discounted price

• Stock

• PTO

• HSA

• Business ownership

This benefit option allows employees to use non-taxable money on certain out-of-pocket care costs.

• PTO

• FSA

• HSA

• 401K

Gross income is defined as

• The total amount of money you spend

• The total amount of money you earn

• The amount of money you receive after deductions are made

• Sales tax on items you buy

Net income is

• Before-tax

• After-tax

• Property tax

• Estate tax

Which of the following is an example of a cash in-flow for a business?

• payment to suppliers
• paying back a loan to a bank
• payment from debtors
• purchase of fixed assets

Select all the statements that are true

• Cash Inflow - Cash Outflow = Net Cash Inflow

• Cash Outflow - Cash Inflow = Net Cash Outflow

• Cash Inflow - Cash Outflow = Net Cash Outflow

• Cash Outflow - Cash Inflow = Net Cash Inflow