NEW
Font size
S
M
L
XL
WorksheetsIncome and Expense
Total questions: 24
Worksheet time: 12mins
Name
Class
Date
1.
Communication and computer
a)
Tuition , Private lessons/Tutoring , Supplies
b)
cell phone, internet service, cable/satellite television, laptop
c)
movies,music,
d)
record in writing, Smartphone, keep receipts, depository institution account statements, money management computer software program
2.
Credit Costs:
a)
credit cards,student loans
b)
Tuition , Private lessons/Tutoring , Supplies
c)
movies,music,
d)
record in writing, Smartphone, keep receipts, depository institution account statements, money management computer software program
3.
Educational expenses:
a)
cell phone, internet service, cable/satellite television, laptop
b)
Tuition , Private lessons/Tutoring , Supplies
c)
movies,music,
d)
child care, allowances, care for other dependents ent computer software
4.
Entertainment:
a)
movies,music,
b)
record in writing, Smartphone, keep receipts, depository institution account statements, money managem program
c)
child care, allowances, care for other dependents ent computer software
d)
child care, allowances, care for other dependents ent computer software
5.
Explain some different ways that income and expenses may be tracked
a)
record in writing, Smartphone, keep receipts, depository institution account statements, money managem program
b)
child care, allowances, care for other dependents ent computer software
c)
Income - expenses = net gain (positive number) or net loss (negative number)
d)
Medical care, dental care medication
6.
Family Member Care
a)
Wages or salary before deductions, commissions/tips/bonuses, tax refunds
b)
child care, allowances, care for other dependents
c)
Food , Veterinary costs , Boarding
d)
Income - expenses = net gain (positive number) or net loss (negative number)
7.
How is a net gain/loss calculated?
a)
Income - expenses = net gain (positive number) or net loss (negative number)
b)
a product that transfers risk from an individual to an insurance company or organization
c)
Food , Veterinary costs , Boarding
d)
child care, allowances, care for other dependents ent computer software
8.
What is income
a)
any kind of money that you receive.
b)
ALL of the money you receive BEFORE taxes or other expenses.
c)
money that remains AFTER taxes and other mandatory expenses.
d)
Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
9.
What is gross income?
a)
ALL of the money you receive BEFORE taxes or other expenses.
b)
Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
c)
workers compensation, scholarships/grants from government sources
d)
money that you spend
10.
What is net income?
a)
money that remains AFTER taxes and other mandatory expenses.
b)
Wages or salary before deductions, commissions/tips/bonuses, tax refunds
c)
Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
d)
workers compensation, scholarships/grants from government sources
11.
What are some examples of unearned income?
a)
Federal income and state income tax Social Security Medicare
b)
Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
c)
ALL of the money you receive BEFORE taxes or other expenses.
d)
money that you spend
12.
What are some examples of received income from government programs?
a)
lists and summarizes income and expense transactions that have taken place over a specific period of time, usually a month or year
b)
ALL of the money you receive BEFORE taxes or other expenses.
c)
money that remains AFTER taxes and other mandatory expenses
d)
workers compensation, scholarships/grants from government sources
13.
What are expenses?
a)
a product that transfers risk from an individual to an insurance company or organizatio
b)
Federal income and state income tax Social Security Medicare
c)
money that you spend
d)
any portion of income that is saved or invested for future use Retirement investments
14.
What taxes are recorded on the Income and Expense Statement?
a)
Housing payment (rent or mortgage), Utilities, Property taxes, Maintenance, Household furnishings, Home/renter’s insurance
b)
Federal income and state income tax Social Security Medicare
c)
any portion of income that is saved or invested for future use Retirement investments
d)
health insurance, property and liability insurance (for home or automobile), life insurance, and disability insurance.
15.
What is savings?
a)
Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
b)
money that remains AFTER taxes and other mandatory expenses.
c)
any portion of income that is saved or invested for future use Retirement investments
d)
Housing payment (rent or mortgage), Utilities, Property taxes, Maintenance, Household furnishings, Home/renter’s insurance
16.
What are some types of insurance?¿
a)
Groceries, meals eaten in a restaurant, snacks bought away from home, kitchen supplies
b)
a product that transfers risk from an individual to an insurance company or organization
c)
lists and summarizes income and expense transactions that have taken place over a specific period of time, usually a month or year
d)
health insurance, property and liability insurance (for home or automobile), life insurance, and disability insurance.
17.
What is insurance?
a)
a product that transfers risk from an individual to an insurance company or organization
b)
Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
c)
transactions that have taken place over a specific period of time, usually a month or year lists and summarizes income and expense
d)
Groceries, meals eaten in a restaurant, snacks bought away from home, kitchen supplies
18.
What are some examples of housing expenses?
a)
Income - expenses = net gain (positive number) or net loss (negative number
b)
cell phone, internet service, cable/satellite television, laptop
c)
Housing payment (rent or mortgage), Utilities, Property taxes, Maintenance, Household furnishings, Home/renter’s insurance
d)
workers compensation, scholarships/grants from government sources
19.
What are some examples of expenses in the food category?
a)
transactions that have taken place over a specific period of time, usually a month or year lists and summarizes income and expense
b)
workers compensation, scholarships/grants from government sources
c)
a product that transfers risk from an individual to an insurance company or organization
d)
Groceries, meals eaten in a restaurant, snacks bought away from home, kitchen supplies
20.
Medical Costs not Covered by Insurance
a)
Medical care, dental care medication
b)
Income - expenses = net gain (positive number) or net loss (negative number
c)
a product that transfers risk from an individual to an insurance company or organization
d)
workers compensation, scholarships/grants from government sources
21.
Pet Care:
a)
cell phone, internet service, cable/satellite television, laptop
b)
Food , Veterinary costs , Boarding
c)
credit cards,student loans movies,music,
d)
any kind of money that you receive.
22.
What is an Income and Expense Statement?
a)
Interest earned during time period, money earned from investment during time period, sales of assets, money from savings and investments to help pay unforeseen expenses
b)
Federal income and state income tax Social Security Medicare
c)
lists and summarizes income and expense transactions that have taken place over a specific time period...usually a month or a year
d)
processes and guarantees for providing for the future of your farm animals
23.
What are some examples of earned income?
a)
Wages or salary before deductions,
commissions/tips/bonuses, tax refunds
commissions/tips/bonuses, tax refunds
b)
A list of savings, income, and expenses
c)
lists and summarizes income and expense
transactions that have taken place over a specific
period of time, usually a month or year
transactions that have taken place over a specific
period of time, usually a month or year
d)
How much money you will pay for an elephant ride in India
24.
What are some examples of expenses in the
transportation category?
transportation category?
a)
Vehicle loan payment, Fuel, License and
registration, Repairs and maintenance,
Insurance,
Public transportation
registration, Repairs and maintenance,
Insurance,
Public transportation
b)
Housing payment (rent or mortgage), Utilities,
Property taxes, Maintenance, Household
furnishings, Home/renter’s insurance
Property taxes, Maintenance, Household
furnishings, Home/renter’s insurance
c)
Communication and computer cell phone, internet service, cable/satellite
television, laptop
television, laptop
d)
any portion of income that is saved or invested
for future use
Retirement investments
for future use
Retirement investments
Reset
