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- 1. Multiple Choice
Revenue is:
The amount of money a company pays its employees
The amount of money a company has left over after paying bills
The amount of money a company makes from sales
The amount of taxes a company has to pay
- 2. Multiple Choice
The average price of a gallon of milk increased from $3.00 last year to $3.50 this year. This is most likely due to ______________________.
Inflation
The stock market
Deflation
The market basket
- 3. Multiple Choice
Which interest-bearing account is best for people who won’t need access to their money for several months of longer?
Savings account
Checking account
Certificate of Deposit
Credit card
- 4. Multiple Choice
Why would you put money into a savings account?
To make frequent withdrawals at ATM’s
To access the money from this account with personal checks
To earn interest on your money
To easily access money from this account with a debit card
- 5. Multiple Choice
What is the first step you should take when you want to open a savings account?
Go to the bank and fill out an application
Review the different account options that your bank offers
Present your photo ID to the bank representative
Make your initial deposit
- 6. Multiple Choice
Aaron wants to open a savings account. Which account will grow his money the most?
Account 1 - Interest rate 2%, Interest compounded daily
Account 2 - Interest rate 1%, Interest compounded daily
Account 3 - Interest rate 2%, Interest compounded semi-annually
Account 4 - Interest rate 1%, Interest compounded annually
- 7. Multiple Choice
A loss is when:
Revenue is greater than expenses
Revenue is less than expenses
Revenue is equal to expenses
None of the above
- 8. Multiple Choice
Your sister is looking for a way to increase the amount of interest she is earning on her savings account. What should she do?
Use the money from her savings account to open a checking account instead
Make monthly withdrawals from her savings account
Switch to a savings account with a lower interest rate
Deposit money into her savings account each month
- 9. Multiple Choice
What is required when opening a checking account?
An initial deposit
A salary
A credit card
A copy of your last paycheck
- 10. Multiple Choice
Which of the following best describes deflation?
A decrease in the cost of goods and services
An increase in the cost of goods and services
A decrease in purchases of a good or service
An increase in purchases of a good or service
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