Question

Select all that apply.

1. Which are ways that an entrepreneurial youth can make money?
(a) babysitting
(b) finding money on the ground
(c) receiving money as a gift
(d) helping a neighbor with yard work

2. Which of the following would not be considered taxable income?
(a) tips a server receives from customers
(b) money made from your paycheck
(c) winning $10,000 in the lottery
(d) finding money on the ground in a parking lot

Select all that apply.
3. Which of the following are needs?
(a) an expensive pair of shoes
(b) a piece of clothing you need for a job
(c) food for dinner
(d) food from an expensive restaurant
(f) cell phone
(g) video games

4. If you are looking to save money for a ticket to a concert in a few months, where is the best place to save your money?
(a) retirement account
(b) at home, in a piggy bank
(c) savings account at a bank
(d) investment account

5. Which is an example of an advantage of having a credit card?
(a) paying high interest
(b) paying for a necessity that you don’t have the money for
(c) possibly getting into debt
(d) paying an annual fee

Select all that apply.
6. Which item(s) can be justified for purchasing with a credit card?
(a) bill for a home repair
(b) spontaneous vacation
(c) expensive new pair of shoes
(d) new washing machine to replace a broken one

Answer 1

1.(a) babysitting

(d) helping a neighbor with yard work

2. (d) finding money on the ground in a parking lot

3. (b) a piece of clothing you need for a job

(c) food for dinner

4. (c) savings account at a bank

5. (b) paying for a necessity that you don’t have the money for

6. (a) bill for a home repair

(d) new washing machine to replace a broken one

Answer 2

1: A D

2:D

3:B C

4:C

5:B

6A D