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Money Management

Total questions: 21

Worksheet time: 14mins

Name
Class
Date
1.

The money that you receive for working is called__________.

a)

Income

b)

Credit

c)

Debt

d)

Interest

2.

If you are buying groceries at the store and want to use the money in your bank account, you should pay with ______

a)

Cash

b)

Gift card

c)

Debit card

d)

Credit card

3.

It's important to spend money on things you need before spending money on things you want:

a)

True

b)

False

4.

Owing money to another individual or business or the amount of money borrowed

a)

Budget

b)

Income

c)

Debt

5.
A checking account is
a)
An account where money can easily be deposited and withdrawn by means of checks or debit cards.
b)
An interest bearing account where your deposit remains for a set period of time
c)
A computer that checks your email account
d)
All of the above choices
6.
My cousin wanted to borrow $300 from me. I loaned him the money but I told him that he would have to pay me back $330. The money that was paid back to me on top of the loan is known as_________. 
a)
credit 
b)
interest 
c)
savings 
d)
debt 
7.

Which of the following Is NOT part of writing a check?

a)

Date

b)

Signature

c)

Who you are paying

d)

The address of the person you are paying.

8.

Which of the following is a rule for writing a check?

a)

Write the check in pencil

b)

Leave the memo blank

c)

Write the check in pen

9.

What is wrong with this check?

a)

They didn't write who they are paying.

b)

The date isn't written correctly.

c)

The money amount written in words and dollars is not the same.

10.

What 2 items are wrong with this check?

(2 answers)

a)

They did not draw the line at the end of the money amount.

b)

They didn't initial the mistake.

c)

The check was not signed.

d)

The memo is wrong.

11.

Where does your signature go?

a)

The bottom left corner.

b)

The pay to the order of blank.

c)

The bottom right corner.

12.

The memo must be filled out when you write a check.

a)

True

b)

False

13.

Where can you find the account number?

a)

Next to the date.

b)

At the top of your check.

c)

At the bottom of your check.

14.

Where can you find the check number?

a)

Only at the bottom of the check.

b)

Only at the top of the check.

c)

At both the top and bottom of the check.

15.

How many TOTAL (regular + overtime) hours did Antoine work during this pay period?

a)

2

b)

40

c)

42

d)

270

16.
How many hours of overtime did Antoine work this pay period?
a)
10
b)
8
c)
7
d)
2
17.
What is Antoine’s gross pay for this pay period?
a)
$645
b)
$4,275
c)
$505.03
d)
$3347.32
18.
What is Antoine’s net pay (take-home pay) for this pay period?
a)
$645
b)
$4,275
c)
$505.03
d)
$3347.32
19.
What is Antoine’s net pay (take-home pay) YTD?
a)
$645
b)
$4,275
c)
$505.03
d)
$3347.32
20.
What is Antoine’s gross pay YTD?
a)
$645
b)
$4,275
c)
$505.03
d)
$3347.32
21.
For which tax deduction was $64.50 deducted from Antoine Smith's gross income?
a)
Social Security
b)
Medicare
c)
Federal Withholding Tax
d)
State Withholding Tax