Question 5
A) What is the difference between gross income and net income? Select the best answer. (1 point)
A. All wages and other eamings minus mandatory deductions
B. Gross income is the total of annual salary minus federal income tax.
C.Net income is wages, salaries and other earnings minus all tax and deductions
D. Wages minus voluntary deductions
Question 6
A) What should you do if a deposit made to an ATM on a date before the closing date is missing from your statement? (1 point)
A. Make sure you have the ATM receipt with the date, time, and location of the ATM, the amount, and the transaction number printed. Then call the bank
B. Go back to the ATM and look for your deposit.
C. Forget about it as the bank will never admit an error.
D. If the deposit was a check, call the originator of the check and ask for a new check.
Question 7
A) Which of the following is recurring expense? (1 point)
A. Buying Starbucks every week.
B. Paying your health insurance every month.
C. Buying the new Madden game every year.
D. Eating out twice a month.
Question 8
A) Which of the following is a financial market? (1 point)
A. Bank of America
B. Real estate market
C. Hartford Insurance
D. Goldman Sachs
Question 5:
C. Net income is wages, salaries and other earnings minus all tax and deductions
Question 6:
A. Make sure you have the ATM receipt with the date, time, and location of the ATM, the amount, and the transaction number printed. Then call the bank
Question 7:
B. Paying your health insurance every month.
Question 8:
B. Real estate market