WorksheetsUnit 3 Vocabulary Quiz
Total questions: 16
Worksheet time: 21mins
Israel is curious about different types of income. What is earned income?
Gifts or inheritances
Money received from investments
Money received from work or services.
Government benefits or subsidies
What is profit income in the context of a small business run by George?
What is appreciation?
Appreciation is the act of acknowledging someone's efforts.
Appreciation is a form of currency used on a crypto wallet
Michael bought a car for his business. What is depreciation?
Depreciation is the reduction in the value of an asset over time due to wear and tear, obsolescence, or age.
Depreciation is the process of selling an asset for a profit.
Depreciation refers to the total cost of an asset at the time of purchase.
Depreciation is the increase in the value of an asset over time.
Kai opened a savings account and noticed an entry labeled as interest income on his statement. What is interest income?
Grace received a payment from the shares she owns in a company. What type of income is this?
Dividend income is the income earned from owning shares in a company, distributed as dividends.
Income from selling shares at a profit
Interest earned on savings accounts
Rental income from property
Henry owns a small apartment building and rents it out to tenants. What is rental income?
Income from selling property
Profit from property appreciation
The income generated from leasing out property.
Revenue from property management services
Priya recently sold her shares in a tech company. What are capital gains income?
Evelyn wrote a book and receives payments whenever it is sold. What is this type of income called?
What is per capita in the context of a city's population?
What is net income?
What is the W2?
What is Homeowners Insurance?
Homeowners insurance provides owners of homes with additional homes to insure.
What are Retirement Plans?
Retirement plans are plans that you use to retire your parents early when they start bothering you.
What is health insurance?
Health insurance is a type of medical plan for kids only.
Health insurance is a government program for health providers.
Health insurance is a health membership service that includes gyms,spas and saunas.
What is a W-4 Form?
A tax form that an employee completes to indicate their tax withholding preferences to their employer.
A tax form that an employee completes to indicate their loan withholding preferences to their employer.
A tax form used by employers to report an employee's annual wages and the amount of taxes withheld from their paycheck
A tax form used by employers to report an employee's weekly wages and the amount of taxes withheld from their paycheck
