2.1 - 2.3 Review: Banks, Taxes, and SoFP

Last updated almost 4 years ago

6 Nsɛmmisa

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!

Asemmisa {{asɛmmisaAhyɛnsode}}

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

Laabri

2.1 - 2.3 Review: Banks, Taxes, and SoFP

Last updated almost 4 years ago

6 Nsɛmmisa

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!

Asemmisa {{asɛmmisaAhyɛnsode}}

Which of the following is NOT a common depository institution fee?

Overdraft fee

ATM fee

Minimum balance fee

Debit card fee

Asemmisa {{asɛmmisaAhyɛnsode}}

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

Asemmisa {{asɛmmisaAhyɛnsode}}

Do checking accounts earn interest?

Yes

Sometimes

Asemmisa {{asɛmmisaAhyɛnsode}}

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

Asemmisa {{asɛmmisaAhyɛnsode}}

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.

Asemmisa {{asɛmmisaAhyɛnsode}}

Payroll taxes fund...

your employer.

Medicare and Social Security.

public schools.

road construction.

Asemmisa {{asɛmmisaAhyɛnsode}}

Which of the following is NOT a common depository institution fee?

Overdraft fee

ATM fee

Minimum balance fee

Debit card fee

Asemmisa {{asɛmmisaAhyɛnsode}}

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

Asemmisa {{asɛmmisaAhyɛnsode}}

Do checking accounts earn interest?

Yes

Sometimes

Asemmisa {{asɛmmisaAhyɛnsode}}

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.

Asemmisa {{asɛmmisaAhyɛnsode}}

Payroll taxes fund...

your employer.

Medicare and Social Security.

public schools.

road construction.