5 Written questions
5 Matching questions
- Tax Deduction
- Financial Goals
- Earned Income
- Spending Plan
- a Desired results from one's efforts to achieve personal economic satisfaction.
- 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.)
- 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.)
- d Another name for budget.
- e Earnings from employment, including commissions and tips.
5 Multiple choice questions
- Money earned from investments and employment.
- 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.
- An easy-access credit business that makes high-interest loans secured by personal property collateral, such as jewelry.
- 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.
- A measure of the likelihood of loss or the uncertainty of an investment's rate of return.
5 True/False questions
Tax Deferral → The failure to meet a financial obligation or agreement.
Decision making, systematic → A method of selecting a course of action after gathering and evaluating information and considering the costs and benefits of various alternatives and consequences.
Entrepreneur → An individual who conceives of, establishes, operates, and assumes the risks of a business.
Time Value of Money → Prepaid plastic card that allows purchases up to a set limit, at which point the card is discarded or, if "rechargeable," replenished from an account.
Identity Theft → A plastic card that authorizes the delivery of goods and services in exchange for future payment with interest, according to a specific schedule.