WorksheetsFinancial Literacy
Total questions: 14
Worksheet time: 12mins
Name
Class
Date
1.
money earned or received
a)
Expenses
b)
Income
c)
Deductions
d)
Check
2.
the total amount of personal income before taxes and deductions
a)
Net Income
b)
Gross Income
3.
Tax the boss takes out of your check for social security and medicare
a)
Property Tax
b)
Income Tax
c)
Sales Tax
d)
Payroll tax
4.
Tax on the value of a house, building or land
a)
Sales Tax
b)
Property tax
c)
Income Tax
5.
Money paid to the government
a)
Budget
b)
Fees
c)
Taxes
d)
Food stamps
6.
Tax on something you buy
a)
Sales Tax
b)
Property tax
c)
income tax
d)
payroll tax
7.
Tax on money from a job, paid once a year on April 15 to the IRS
a)
Payroll tax
b)
Coupons
c)
Sales Tax
d)
Income Tax
8.
the income that remains after taxes and other deductions
a)
Net Income
b)
Gross income
9.
when your expenses and Income are equal
a)
net income
b)
gross income
c)
balanced budget
d)
great
10.
payment for goods and services, what you spend
a)
Income
b)
taxes
c)
expenses
d)
credit card
11.
Money taken out your income
a)
gross
b)
net
c)
deductions
d)
expenses
12.
Tom's net income was $400. His gross income was $440. How much was taken out for deductions?
a)
$840
b)
$40
c)
$98
d)
$4
13.
Jill earned $220 gross income last month. She had to pay $13 for payroll tax and $27 for income tax. How much was Jill's net income?
a)
$260
b)
$193
c)
$180
d)
$40
14.
The study of banking and money in this unit is called
a)
Banking Literacy
b)
Money Literacy
c)
Math literacy
d)
Financial Literacy
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