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2.1 - 2.3 Review: Banks, Taxes, and SoFP

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Last updated almost 4 years ago
6 questions
2
2
2
5
2
2
This is open note. After submitting, it will tell you which answers you got right and which you got wrong (except the free answer questions). Go back and correct your answers!

Question 1
1.

Question 2
2.

Question 3
3.

Question 4
4.

Why do we pay taxes? Name on specific thing that taxes help pay for.

Question 5
5.

Question 6
6.

Which of the following is NOT a common depository institution fee?
Overdraft fee
ATM fee
Minimum balance fee
Debit card fee
What's an example of contactless payment?
Buying things off amazon instead of at the store
Apple Pay
Putting your money in an envelope and throwing it at your landlord because neither of you want to catch COVID
Swiping your credit card
Do checking accounts earn interest?
Yes
No
Sometimes
Bob goes to buy a pair of pants at the store. The label says $10 but after checking out his receipt says his total was $10.60. Why the difference?
The cashier is a thief. Bob should go back and knock his block off.
Bob was charged excise tax.
Bob was charged sales tax.
Bob was charged a fee for paying with a debit card.
Payroll taxes fund...
your employer.
Medicare and Social Security.
public schools.
road construction.