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Worksheets

Financial litracy

Total questions: 20

Worksheet time: 11mins

Name
Class
Date
1.

Mrs. Allen took home $1,245 after taxes. What is this considered?

a)

net income

b)

gross income

c)

deposits

d)

income tax

2.

Before taxes and deductions, Mrs. Allen's pay was $1,600. This is considered her -

a)

net income

b)

gross income

c)

deposits

d)

income tax

3.

Mrs. Fanning bought a science kit at the store for $10. At the register, she was charged $10.85. The different between the price and what Mrs. Fanning paid is considered -

a)

income tax

b)

credit

c)

sales tax

d)

property tax

4.

Mrs. Allen paid $3,678 every year as a tax on her house. This is considered a -

a)

sales tax

b)

income tax

c)

property tax

d)

home tax

5.

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

6.

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

7.

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

8.

Ms. Calandra was going on a vacation. She took some money out of her account to pay for her trip. She made a _______________ from her bank account.

a)

deposit

b)

withdrawal

c)

debit

d)

deduction

9.

Mrs. Fanning was able to pay all of her bills with the money she was earning. This means she had a -

a)

balanced budget

b)

net income

c)

gross income

d)

property bill

10.

Mrs. Allen had to pay the government $234 from her paycheck. She paid -

a)

income tax

b)

sales tax

c)

payroll tax

d)

property tax

11.
Something that you pay is called....
a)
income
b)
an expense
c)
a profit
d)
savings
12.
Money that you make is called...
a)
income
b)
variable expense
c)
propery taxes
d)
fixed expense
13.
Sawyer is selling bracelets.  She pays $2.00 for the beads and $2.50 for the string.  She sells 10 bracelets for $1.00 each.  How much are her expenses?
a)
$2.00
b)
$2.50
c)
$4.50
d)
$5.50
14.
Will spends $8.00 on what he needs to make hot dogs.  If he sells 20 hot dogs for $1.00 each, how much is his profit?
a)
$20.00
b)
$12.00
c)
$10.00
d)
$11.00
15.

An amount available or owed on an account.

a)

Accounts

b)

Balance

c)

Budget

d)

Cash

16.

Deciding how to spend your money before you actually spend it.

a)

Account

b)

Balance

c)

Budget

d)

Cash

17.

The physical form of money, such as coins or paper money.

a)

Balance

b)

Budget

c)

Cash

d)

Copay

18.

A bank account that allows quick access to money for everyday expenses.

a)

Checking Account

b)

Savings Account

c)

Debit Card

d)

Credit Card

19.

The time it takes for money to move from one account to another (e.g. from checking to cash, or from one checking account to another).

a)

Overhauling

b)

Over ride

c)

Clearing

d)

Balance out

20.

When is interest paid?

a)

When the company you have bought stock in has earned you a profit

b)

When you borrow money from a lender and they charge you for the convenience of giving you a line of credit

c)

When you put money into your savings

d)

When you over withdrawal in your bank account and you are charged a fee