fbla personal finance study guide
questions and answers Graded A+
tax on wages, salaries, and self-employed earnings - Correct answer-income tax
a retirement plan that is funded at least in part by an employer - Correct answer-
pension plan
a specific expense, such as a medical expense, that can be deducted from adjusted
gross income for tax purposes - Correct answer-an itemized deduction
a fee collected from most employees to support a federal program that provides
old-age, survivors, and disability insurance is commonly referred to as - Correct
answer-social security tax
amount of income from wages or salary before payroll deductions - Correct
answer-gross income
budget - Correct answer-a plan to match expected income w expected outflow
a person who buys and uses goods and services - Correct answer-consumer
saving - Correct answer-what people usually do to meet short-term goals
, ingredients on food labels are liste - Correct answer-by weight, most to least
when you multiply principal x rate of interest x length of repayment time - Correct
answer-simple interest
type of communication that takes place among employees - Correct answer-
horizontal
personal factors that change your buying patterns - Correct answer-age, lifestyle,
employment status
the best approach to solving the problem of an annual budget deficit is generally to
- Correct answer-reduce flexible expenditures
municipal bonds have an additional benefit of being - Correct answer-not rated
factors that influence personal decisions - Correct answer-values, peers, family
first step in financial planning process - Correct answer-set goals
an employee benefit that a working parent would find most useful - Correct
answer-parental leave
type of investment w the highest risk and highest potential rate of return - Correct
answer-stocks
an advantage of owning a house instead of renting it - Correct answer-may have
tax advantages
questions and answers Graded A+
tax on wages, salaries, and self-employed earnings - Correct answer-income tax
a retirement plan that is funded at least in part by an employer - Correct answer-
pension plan
a specific expense, such as a medical expense, that can be deducted from adjusted
gross income for tax purposes - Correct answer-an itemized deduction
a fee collected from most employees to support a federal program that provides
old-age, survivors, and disability insurance is commonly referred to as - Correct
answer-social security tax
amount of income from wages or salary before payroll deductions - Correct
answer-gross income
budget - Correct answer-a plan to match expected income w expected outflow
a person who buys and uses goods and services - Correct answer-consumer
saving - Correct answer-what people usually do to meet short-term goals
, ingredients on food labels are liste - Correct answer-by weight, most to least
when you multiply principal x rate of interest x length of repayment time - Correct
answer-simple interest
type of communication that takes place among employees - Correct answer-
horizontal
personal factors that change your buying patterns - Correct answer-age, lifestyle,
employment status
the best approach to solving the problem of an annual budget deficit is generally to
- Correct answer-reduce flexible expenditures
municipal bonds have an additional benefit of being - Correct answer-not rated
factors that influence personal decisions - Correct answer-values, peers, family
first step in financial planning process - Correct answer-set goals
an employee benefit that a working parent would find most useful - Correct
answer-parental leave
type of investment w the highest risk and highest potential rate of return - Correct
answer-stocks
an advantage of owning a house instead of renting it - Correct answer-may have
tax advantages
