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Budget Vocabulary Quiz #2

Total questions: 15

Worksheet time: 7mins

Name
Class
Date
1.

A document that summarizes an employee's deductions and taxes is

a)

Gross Pay

b)

Net Pay

c)

Pay Stub

d)

Income Tax

2.

The sum of all cash payments made by the government to provide goods & services.

a)

Government Spending

b)

Net Pay

c)

Pay Stub

d)

Gross Pay

3.

What is a tax levied by a government directly on income?

a)

Expenses

b)

Income Tax

c)

Income

d)

Government Spending

4.

The amount of money left over after subtracting spending & other obligations.

a)

Bills

b)

Gross Pay

c)

Pay Stub

d)

Savings

5.

The total amount of money an employer gives to an employee or contractor after deductions.

a)

Gross Pay

b)

Net Pay

c)

Pay Stub

d)

Expenses

6.

What is an estimate of income and expenditure for a set period of time?

a)

Income

b)

Needs

c)

Budget

d)

Wants

7.

What are things that people have a desire to possess or do?

a)

Wants

b)

Bills

c)

Income

d)

Expenses

8.

What is the money received on a regular basis for work or through investment?

a)

Expenses

b)

Income Tax

c)

Needs

d)

Income

9.

What is the amount of money as employer gives to an employee or contractor after deductions?

a)

Net Pay

b)

Pay Stub

c)

Gross Pay

d)

Allowance

10.

This is money given to someone regularly or for a specific purpose.

a)

Pay Stub

b)

Allowance

c)

Net Pay

d)

Savings

11.

The amount left over from your paycheck after taxes and deductions are withheld is called ______________.

a)

balance

b)

transaction

c)

gross balance

d)

net pay

12.

Also known as your take home pay.

a)

Salary

b)

Gross pay

c)

Net pay

d)

Withholdings

13.

If an employee is paid monthly and earns $48,000 annually, what is their gross pay per month?

a)

$4,000

b)

$3,000

c)

$2,000

d)

$4,500

14.
Annual salary is the amount of money you are paid..
a)
Monthly
b)
Semi-Monthly
c)
Bi-Weekly
d)
Yearly
15.

What is gross pay?

a)

The amount of money you earn after deductions

b)

The amount of money you earn before deductions

c)

Pay Period