Understanding Financial Transactions

Understanding Financial Transactions

Assessment

Interactive Video

Mathematics

5th - 6th Grade

Hard

Created by

Thomas White

FREE Resource

This lesson explores the application of positive and negative numbers in real-world scenarios. It begins with an introduction to the concept of positive and negative numbers, followed by a vocabulary section that explains terms like credit, deposit, charge, and debit. The lesson includes examples of transactions to illustrate these concepts and emphasizes the importance of understanding the starting point in calculations. The goal is to help students relate mathematical concepts to real-life situations.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main focus of the lesson in module three, lesson two?

Understanding fractions

Exploring real-world applications of positive and negative numbers

Learning about geometric shapes

Studying algebraic expressions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following words indicates a positive value in real life?

Credit

Charge

Withdraw

Debit

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does a deposit represent in financial terms?

A withdrawal from an account

A charge on a credit card

Money placed into an account

A fee for a service

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a positive value term?

Balance

Withdraw

Deposit

Credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term is often interchangeable with 'charge' in financial contexts?

Withdraw

Deposit

Credit

Debit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to Jim's account balance when he deposits $10?

It decreases by $5

It increases by $10

It remains the same

It decreases by $10

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If Jim spends $4 on ice cream, what is the new balance if he started with $10?

$10

$6

$14

$4

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