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WorksheetsUnit 1: What is Money terms
Total questions: 12
Worksheet time: 6mins
Money
a bank card that automatically deducts the amount of a purchase from your checking account
any item (coins and paper) that is used as payment for products.
the income received by property owners in the form of rent.
an amount of money you receive unexpectedly.
Employment
the exchange of goods without involving money
assets purchased with the goal of providing additional income from the asset itself
a printed order for payment of a specified sum, issued by a bank or post office
having a job or career and responsibilities that go with it
Exchanging goods without involving money
Money order
Windfall
Debit card
Barter
A tax system for which the percentage of income paid in taxes increases as one's income increases
proportional tax
regressive tax
progressive tax
income tax
Overtime pay is usually
double pay rate
time and a half
commonly given
given when working over 10 hours a week
Investments are
assets purchased with the goal of providing additional income from the asset itself
income received by property owners in the form of rent
the money you win or receive unexpectedly
taxes on people's earnings
Which of the following is NOT an example of a Windfall?
winnings from the lottery
an inheritance
your weekly paycheck
monetary gifts
A tax based on the cost of an item purchased and collected directly from the buyer
sales tax
income tax
regressive tax
federal tax
A payroll deduction collected by employers by law and sent to the state government to support state services is known as
federal tax
social security tax
state income tax
local tax
True/False: The role of the Treasury Department is to oversee the printing and minting of currency, collecting taxes, duties, and monies paid to the U.S., and to pay our country's bills.
True
False
True/False: Income tax is a tax on peoples' income
True
False
True/False: a debit card is a bank card that can be used, with or without money in your checking account.
True
Fasle
