Taxes
Money collected from taxes is known as tax __
What is revenue?
This form of payment is when bills or coins are used for the purchase of an item
What is cash?
The money you get from your ice cream truck
What is income?
This is the term for the tax taken from your yearly salary and other forms of revenue
What is income tax?
This form of payment can be completed online through the use of an electronic app (2 answers)
What is Etransfer/Cryptocurrency?
The revenue you make minus the expenses you pay.
What is net income?
This institution is responsible for collecting federal taxes
What is the Canadian government?
This form of payment is a piece of paper that represents a commitment of money from one party to another
What is a cheque?
Money you set aside in case of an unexpected expense
What is an emergency fund?
This tax is the money paid for purchasing goods, such as grocery shopping
What is sales tax?
This form of payment involves the use of a card that borrows money from the bank to complete purchases, which you later have to pay back.
What is a credit card?
Items in your budget that always stay the same (Morgage, car insurance)
What are fixed expenses?
This term refers to all the roads, sidewalks, and highways that connect cities, funded by tax revenue
What is infrastructure?
This term refers to an individual's ability to pay back loans they take on from the bank.
What is credit risk?
Items in your budget that will change from week to week or month to month (books, clothes purchased)
What are variable expenses?