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Worksheets

Income and Expenses

Total questions: 15

Worksheet time: 9mins

Name
Class
Date
1.

This lists and summarizes income and expense transactions that have taken place over a specific period of time, usually a month or year.

a)

net loss

b)

income and expense statement

c)

gross income

d)

net income

2.

Income is _____ received.

a)

money

b)

net

c)

spending

d)

expenses

3.

Money received from working for pay

a)

salary

b)

earned income

4.

income received from sources other than employment

a)

unearned income

b)

take-home pay

c)

mortgage

d)

earned income

5.

individual’s income earned as salary or wages before taxes and other deductions

(a)  

6.

take-home pay; what is left in the paycheck after taxes and other deductions

a)

savings

b)

gross income

c)

net income

d)

insurance

7.

income earned upon a sale and is often calculated as a percentage of the purchase price

a)

tips

b)

net income

c)

salary

d)

commission

8.

money given to someone as a way of rewarding them for quality service

a)

gratutity

b)

tips

c)

expenses

d)

income

9.

the amount of money added to wages on a seasonal basis as a reward for good performance - paid in addition to employee’s wage or salary

a)

bonus

b)

commission

c)

salary

d)

interest

10.

earned income from over-withholding from your paycheck in a previous period

a)

gross

b)

interest

c)

tax refund

d)

net gain

11.

interest from depository institution accounts earned during a specified time period

a)

savings

b)

income

c)

net gain

d)

interest earned

12.

any money earned from financial investments during a specified time period.

a)

salary

b)

investment earnings

c)

net gain

d)

insurance

13.

money that you spend

a)

income

b)

expenses

c)

insurance

d)

net loss

14.

income greater than expenses without using savings or selling assets

a)

net loss

b)

gross

c)

net gain

d)

take-home pay

15.

expenses are greater than income

a)

money spent

b)

net loss

c)

net gain

d)

bonus