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Financial Literacy Terms Quiz Prep

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

A plan for how to spend and save money over a certain period of time

a)

saving

b)

expense

c)

budget

d)

income

2.

the money you earn from work, allowance or other sources

a)

Income

b)

budget

c)

balance sheet

d)

asset

3.

money that is spent of items, services, or bills

a)

savings

b)

expense

c)

financial statement

d)

equity

4.

money set aside to use later instead of spending it right away

a)

investment

b)

debt

c)

credit

d)

savings

5.

the extra money you earn or pay when saving or borrowing money

a)

credit

b)

debt

c)

interest

d)

liability

6.

money you owe someone else

a)

debt

b)

asset

c)

liability

d)

profit

7.

the ability to borrow money and pay it back later

a)

stock

b)

principal

c)

profit

d)

credit

8.

money borrowed that must be repaid, usually with interest

a)

stock

b)

credit

c)

loan

d)

money

9.

the original amount of money borrowed or invested before interest

a)

principal

b)

profit

c)

credit

d)

SIX SEVEN

10.

the money left after all costs and expenses are paid

a)

Cash Flow

b)

profit

c)

Asset

d)

Liquidity

11.

Something valuable that you own, like money, property, or investments

a)

saving

b)

budget

c)

Asset

d)

Cash flow

12.

Something you owe, such as a loan or a bill to pay

a)

Liability

b)

Income

c)

Expense

d)

Equity

13.

Ownership in something, such as a company or property, after debts are paid

a)

Income

b)

Equity

c)

Expense

d)

Interest

14.

the movement of money coming and going out of a business or account

a)

Financial Statement

b)

Cash Flow

c)

Bond

d)

Stock

15.

A report that shows what a person or business owns and owes at a certain time

a)

Balance Sheet

b)

Equity

c)

Income

d)

Asset