5 Written questions
5 Matching questions
- Savings Bond
- Capital Gain
- Transfer Payment
- Cash Flow Statement
- a A summary of receipts and payments for a given period, helpful when preparing a budget; also known as an income and expense statement.
- b An individual who conceives of, establishes, operates, and assumes the risks of a business.
- c Income that results when the selling price of an asset is greater than the original purchase price.
- d Money that a government provides to citizens for reasons other than current employment or the delivery of goods or services in exchange. Examples include Social Security, veteran's benefits, and welfare.
- e A document representing a loan of more than one year to the U.S. government, to be repaid, with interest on a specified date.
5 Multiple choice questions
- Gross pay minus deductions for taxes.
- Compensation for work, expressed as an annual sum and paid in prorated portions regularly— usually weekly, bi-weekly, or monthly. (See Wage.)
- A fraudulent or deceptive act.
- Covers specific costs of custodial care in a nursing facility or at home.
- A person who lends money at an exorbitant rate of interest.
5 True/False questions
Unearned Income → Earnings from sources other than employment, including investment returns and royalties.
Saving → The process of setting income aside for future spending. Saving provides ready cash for emergencies and short-term goals, and funds for investing.
Liquidity → Stock ownership in a corporation.
Financial Plan → Another name for budget.
Earned Income → Earnings from employment, including commissions and tips.