5 Written Questions

1. items of value that a person owns
2. the amount left after all deductions have been taken out of your gross pay
3. the process of matching your checkbook register with the bank statement
4. costs you are obligated to pay at specific times, regardless of other events
5. company-provided supplements to salaries, such as sick pay, vacation time, and health insurance

5 Matching Questions

1. Check
2. Liabilities
3. Financial Plan
4. Revenue
5. Overtime

1. a amounts of money owed to others
2. b money collected by the government from residents and businesses in the form of taxes
3. c the time worked beyond the regular hours; usually more than 40 hours in a five-day period
4. d a written order to a bank to pay the stated amount to the person or business (payee) named on it
5. e a set of goals for spending, saving, and investing the money you earn

5 Multiple Choice Questions

1. money offered to encourage employees to strive for higher levels of performance
   1. Gross Pay
   2. Financial Plan
   3. Incentive Pay
   4. Net Pay
2. an amount you may subtract from your income for each person who depends on your income to live
   1. Deductions
   2. Overtime
   3. Exemption
   4. Tax Evasion
3. a written amendment to an insurance policy
   1. Revenue
   2. Budget
   3. Endorsement
   4. Overtime
4. willful failure to pay taxes
   1. Exemption
   2. Tax Evasion
   3. Tax Credit
   4. Tax Brackets
5. an amount subtracted directly from the tax owed
   1. Assets
   2. Tax Brackets
   3. Tax Evasion
   4. Tax Credit

5 True/False Questions

1. Canceled Check → a check that bears the bank's stamp, indicating it has cleared

   True        False

2. Gross Income → the total amount you earn before any deductions are subtracted

   True        False

3. Disposable Income → the money left to spend or save after taxes have been paid

   True        False

4. Budget → a spending and saving plan based on your expected income and expenses

   True        False

5. Overdraft → a check written for more money than your account contains

   True        False