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Unit 7 PFL Vocabulary

Quiz by TMossman

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Q 1/8
Score 0
_________________ is interest paid on the initial principal and on interest earned in the past.
29
variable expenses
simple interest
compound interest
fixed expenses

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8 questions

Show answers

Q1
_________________ is interest paid on the initial principal and on interest earned in the past.
variable expenses
simple interest
compound interest
fixed expenses
20s
Q2
Items that are owned by an individual are called _____________.
taxes
liability
budget
assets
20s
Q3
_________________ are costs that do not change based on the amount that is used.
sales tax
fixed expenses
income tax
variable expenses
20s
Q4
Debts that are owed by an individual are called ___________________.
assets
net worth
budget
liability
20s
Q5
The value of one's assets minus one's liabilities is called _______________.
net worth
budget
variable expense
liability
20s
Q6
_____________ are costs that change based on the amount that is used.
budget
liability
fixed expenses
variable expenses
20s
Q7
A plan for spending is called a(n) _________________.
budget
expenses
tax
liability
20s
Q8
Interest paid only on the initial principle of a savings account or loan is called ____________.
compound interest
simple interest
income tax
sales tax
20s

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