WorksheetsITB. Midterm Review #1. SY22/23.
Total questions: 20
Worksheet time: 15mins
Gross income is...
The amount of money you have from your wages, salary or tips.
The amount of money you have left after you pay your taxes.
The amount of money you have from your tax return.
The amount of money you have from donations.
Net income is...
The amount of money from a tax refund.
The amount of money from gifts and donations.
The amount of money you have before paying your taxes.
The amount of money you have left after paying your taxes.
The three main sources of tax revenue are... (Select all that apply.)
pet tax
income tax
bag tax
sales tax
property tax
Which services are federally supported by taxes? Select all that apply.
National defense, veterans, and foreign affairs.
Public schools
Social Security, Medicare, and other retirement programs.
Mass transportation
Social programs
Your abilities include:
The things you do well
Your mental competence
The skill you need to do something
All of the above
What is the best definition of career cluster?
A grouping of jobs and industries related by skills or products.
Work that matches a worker's interests, values, and abilities.
A series of classes or experiences intended to help students achieve a career in a certain occupation.
A system of careers designed to use the same skills.
What would be the most efficient way to find out more about a certain career?
Look online.
Ask people you know in that line of work.
Look for a job on Craigslist.
Research the career in the Occupational Outlook Handbook.
Match the Cluster to the Job
Architecture & Construction
Electrician
Marketing, Sales, and Services
Customer Service Representative
Hospitality and Tourism
Event Planner
Education and Training
Coach
Transportation, Distribution, and Logistics
Pilot
What is the difference between gross pay and net pay?
Net pay is the amount of pay remaining after deductions have been removed from a paycheck, while gross pay is the amount you earn.
Gross pay is exempt from taxes, while net pay is used to determine taxes.
Only gross pay can be used to determine budget, while net pay is used to determine disposable income.
Net pay is always the larger amount, while gross pay is the desirable amount.
Identity theft is a threat to anyone with a good credit rating.
true
false
A disadvantage of using a credit card is:
there are no high interest rates
there are high interest rates
What is a record of income and expenditures for a given time period called?
Credit
Investment
Budget
Interest
When budgeting, what is the first category you should consider?
wants
needs
discretionary funds
important expenses
Jason went to the grocery storeto buy a gallon of milk for his mom. While waiting in the checkout line, he saw a display for a new chocolate-caramel candy bar, so he bought that too.
What is the candy bar purchase an example of?
special treat he earned
impulse buy
need
payment for running an errand for his mom
