Which of the following is true of credit cards?
(1 point)
Responses
You cannot use them to buy something that costs more money that you have in the bank.
You cannot use them to buy something that costs more money that you have in the bank.
They generally charge 3% to 5% interest.
They generally charge 3% to 5% interest.
When you use them, you never really know how much you owe.
When you use them, you never really know how much you owe.
They can be used to make online purchases.
They can be used to make online purchases.
What is the difference between gross income and net income? Select the best answer.(1 point)
Responses
Gross income is the total of annual salary minus federal income tax.
Gross income is the total of annual salary minus federal income tax.
All wages and other earnings minus mandatory deductions
All wages and other earnings minus mandatory deductions
Net income is wages, salaries and other earnings minus all tax and deductions
Net income is wages, salaries and other earnings minus all tax and deductions
Wages minus voluntary deductions
Wages minus voluntary deductions
Net income is wages, salaries and other earnings minus all tax and deductions.
Which of the following is a benefit that an employer might offer? select all that apply.(1 point)
Responses
life insurance
life insurance
“Take Your Child to Work” Day
“Take Your Child to Work” Day
a flexible spending account
a flexible spending account
supportive workplace
supportive workplace
free lunch from local deli on Fridays
life insurance, "Take Your Child to Work" Day, a flexible spending account, supportive workplace
Which of the following is a benefit that an employer might offer?(1 point)
Responses
life insurance
life insurance
“Take Your Child to Work” Day
“Take Your Child to Work” Day
a flexible spending account
a flexible spending account
supportive workplace
supportive workplace
free lunch from local deli on Fridays
All of the options listed are benefits that an employer might offer.
Why would someone choose to have extra money withheld from his paycheck for federal taxes?(1 point)
Responses
A person lives in a state with high income taxes and wants to make sure enough taxes are withheld.
A person lives in a state with high income taxes and wants to make sure enough taxes are withheld.
This person considers himself a patriot and wants to pay more taxes.
This person considers himself a patriot and wants to pay more taxes.
This person chose an insurance plan with a high deductible.
This person chose an insurance plan with a high deductible.
This person did not want to risk having too little money withheld and facing a penalty when filing their tax return.
This person did not want to risk having too little money withheld and facing a penalty when filing their tax return.
Which of the following is true of store credit cards?
(1 point)
Responses
They are co-branded with Visa, MasterCard, or American Express.
They are co-branded with Visa, MasterCard, or American Express.
You can use them anywhere.
You can use them anywhere.
Most give you 28 days before they start to accrue interest.
Most give you 28 days before they start to accrue interest.
They usually have interest rates of 5 to 10 percentage points higher than those of ordinary credit cards.