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5 Written questions

5 Matching questions

  1. Tax Deduction
  2. Credit
  3. Financial Goals
  4. Earned Income
  5. Spending Plan
  1. a Desired results from one's efforts to achieve personal economic satisfaction.
  2. b An agreement to provide goods, services, or money in exchange for future payments with interest by a specific date or according to a specific schedule. The use of someone else's money for a fee. (See Open-end credit, Closed-end credit, and Easy-access credit.)
  3. c An expense that a taxpayer can subtract from taxable income. Examples include deductions for home mortgage interest and for charitable gifts. (See Tax credit and Tax exemption.)
  4. d Another name for budget.
  5. e Earnings from employment, including commissions and tips.

5 Multiple choice questions

  1. Money earned from investments and employment.
  2. Annual earnings on an investment expressed as a percentage of the amount invested; also known as yield. Example: A $3 annual dividend divided by $34 share cost = 0.088, an 8.8% rate of return.
  3. An easy-access credit business that makes high-interest loans secured by personal property collateral, such as jewelry.
  4. An agreement with a financial institution that gives a borrower the use of money up to a specified limit for an indefinite time as long as repayment of the outstanding balance and finance charge proceeds on schedule; also known as revolving credit or a revolving line of credit. A credit card is an example.
  5. A measure of the likelihood of loss or the uncertainty of an investment's rate of return.

5 True/False questions

  1. Tax DeferralThe failure to meet a financial obligation or agreement.

          

  2. Decision making, systematicA method of selecting a course of action after gathering and evaluating information and considering the costs and benefits of various alternatives and consequences.

          

  3. EntrepreneurAn individual who conceives of, establishes, operates, and assumes the risks of a business.

          

  4. Time Value of MoneyPrepaid plastic card that allows purchases up to a set limit, at which point the card is discarded or, if "rechargeable," replenished from an account.

          

  5. Identity TheftA plastic card that authorizes the delivery of goods and services in exchange for future payment with interest, according to a specific schedule.