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Financial Literacy

Total questions: 14

Worksheet time: 7mins

Name
Class
Date
1.

Ms. Calandra went to the movies with her friend, Mrs. Fanning. She bought the tickets which totaled $16.50. Mrs. Calandra used her bank card to pay that money directly to the theater. The money was _______________ from her account.

a)

debited

b)

credited

c)

deposited

d)

taxed

2.

Mrs. Fanning wanted to buy a new refrigerator. A store would give her the money to buy the refrigerator, but she would need to pay the money back. This is called a -

a)

credit

b)

deposit

c)

withdrawal

d)

debit

3.

Ms. Guillory sold some of her son's old toys and earned $56. She went to the bank and added the money to her account. She made a _________________ to her account.

a)

deposit

b)

withdrawal

c)

debit

d)

deduction

4.

Going to work at a job is a way to....

a)

get fired

b)

earn money

c)

make new friends

d)

buy a motorcycle

5.

What would happen if Monica has to sell her shirts for less that it cost her to make them?

a)

She would make no profit

b)

She would make great profit

c)

Nothing will happen

d)

She would have to take out a loan

6.

If you have to sell something for less than what you paid for it you will

a)

make no profit

b)

make a profit

c)

break even

d)

be a salesperson

7.

If you sell something for more than what you paid for it, you will

a)

make a profit

b)

make no profit

c)

have a clearance sale

d)

win a salesforce award

8.

To earn $25.00 how long do you have to save $5.00

a)

4 weeks

b)

5 weeks

c)

6 weeks

d)

1 week

9.

If you make $7.00 a week for 6 weeks, how much money will you have.

a)

$71.00

b)

$17.00

c)

$42.00

d)

$56.00

10.

The amount of money you have in your bank account

a)

Withdraw

b)

Deposit

c)

Balance

d)

Interest

11.

Money you receive for having a savings account

a)

Withdraw

b)

Deposit

c)

Balance

d)

Interest

12.

 7.71+257=B\text{7.71+257=B}  
Solve for B the balance

(a)  

13.

Exchanging money for goods or services is

a)

COST

b)

INTEREST

c)

SPENDING

d)

SAVING

14.

Receipts are

a)

total money taken in

b)

money spent

c)

the difference between expenses and reciepts

d)

money received for having a savings