WorksheetsQuizizz Unit 2 Review
Total questions: 14
Worksheet time: 7mins
Name
Class
Date
1.
For-profit depository businesses that offer financial services to both consumers and other businesses.
a)
Credit Unions
b)
Banks
c)
ATM
d)
Online Apps
2.
Businesses that provide financial services are called...
a)
Online Apps
b)
Credit Unions
c)
Banks
d)
Depository Institutions
3.
How do take payers pay for taxes?
a)
Through Income Tax and Payroll Tax
b)
Through Income Tax, Payroll Tax, and Excise tax
c)
Through Income Tax, Payroll Tax, Excise Tax, and Sales Tax
d)
Through Income Tax, Sales Tax, and Payroll Tax
4.
Income received from sources other than employment is called...
a)
Income Tax
b)
Unearned Income
c)
Earned Income
d)
Earned Income Tax
5.
Federal Income Tax plus State Income Tax equals.....
a)
Earned Income Tax
b)
Earned Income
c)
Unearned Income
d)
Income tax
6.
A tax on earned income that supports the Social Security and Medicare programs
a)
Income Tax
b)
Payroll Tax
c)
State Income Tax
d)
Federal Income Tax
7.
Which is not a purpose of Social Security?
a)
Income for just retirees only
b)
Income for retirees and people with profound disability
c)
Income for retirees, people with profound disability, and children who have lost a parent
d)
Income for retirees, people with profound disability, children who have lost a parent, and a person with children who has experienced the death of a spouse
8.
A measurement of how much a person or household owns once all debts have been paid is called...
a)
Monetary Asset
b)
Liability
c)
Net Worth
d)
Wealth
9.
Assets that can be quickly and easily converted into cash is called...
a)
Market Value
b)
Cash Assets
c)
Investment Assets
d)
Monetary Asset
10.
Financial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the future
a)
Investment Assets
b)
Market Value
c)
Cash Assets
d)
Tangible Asset
11.
An individual’s income earned as salary before taxes and other deductions
a)
Net Pay
b)
Required Pay
c)
Gross Pay
d)
Employers Pay
12.
How do you get net worth?
a)
Assets + Liabilities = Net Worth
b)
Liabilities / Assets = Net Worth
c)
Assets x Liabilities = Net Worth
d)
Assets - Liabilities = Net Worth
13.
Which choice below is NOT considered a Savings Tool?
a)
Savings Account
b)
Checking Account
c)
Money Market Account
d)
Income & Expense Statement
14.
How many steps are there in the Spending Plan Development Process?
a)
2
b)
7
c)
4
d)
5
100 %
