Ways to Pay
If you want to buy something at a yard sale, you will need to have this:
A. A chequing account
B. Cash (or money)
C. A drive home
D. A bag to carry it in
What is B. Cash (or money)
True or false?
When you buy something at a yard sale you need to pay tax
What is False.
When you trade for something without using money, you use a form of this:
A. Shopping
B. Dining out
C. Bartering
D. Borrowing
Garry has $40, all in bills. What is the greatest number of bills he could have?
A. 2 $5 bills and 3 $10 bills
B. 4 $5 bills and 2 $10 bills
C. 8 bills of $5 each
D. 2 $20 bills
What is D. 2 $20 bills
What does the word “financial” mean?
A. Having to do with adult issues
B. Being able to buy things when you want
C. Thinking about a budget
D. Anything having to do with money
What is D. Anything having to do with money
What is a card that people use to buy things today and pay for them later?
A. Gift card
B. Birthday card
C. Credit card
D. Debit card
What is C. Credit Card
The province of Ontario collects this tax when people buy things or pay for services.
A. Value-added tax (VAT)
B. Harmonized Sales Tax (HST)
C. Goods and Services Tax (GST)
D. Provincial sales tax (PST)
What is B. Harmonized Sales Tax (HST)
If somebody wants to get a debit card, then they would need this type of bank account:
A. A chequing account
B. A wallet
C. An investment account
D. A savings account
What is A. A chequing account
A teenager made $60 babysitting and then spent $18.95 on books and $4.45 on snacks. About how much was left to save?
A. Between $25 and $28
B. Between $35 and $40
C. About $30
D. About $40
What is B. Between $35 and $40
What is a budget?
A. Lots of money
B. A plan about how to make and spend money (or a limit on how much to spend a certain way)
C. Being unable to pay for things
D. A boss
What is B. A plan about how to make and spend money (or a limit on how much to spend a certain way)
What is a card that people can use at a bank machine to get cash?
A. Credit card
B. Debit card
C. Loyalty card
D. A bag to carry it in
What is B. Debit card
Harmonized Sales Tax describes a combination of these two taxes.
A. Value-added tax (VAT) and sales tax
B. Income tax and sales tax
C. Provincial Sales Tax (PST) and Goods and Services Tax (GST)
D. Provincial sales tax (PST) and regular sales tax
What is C. Provincial Sales Tax (PST) and Goods and Services Tax (GST)
What does it mean for a person to invest their money?
A. Using money they have to make more money
B. Putting money into a bank account
C. Exchanging money with another person
D. Having a job
What is A. Using money they have to make more money
Jamy borrowed $20 and has to pay it back in a week. How can you describe his situation?
A. He earned $20.
B. He owes 13% tax on $20.
C. He has a debt of $20.
D. He needs to earn another $40.
What is C. He has a debt of $20
True or false?
Income is any money that somebody has, whether they worked for it, received it as a gift, or found it
What is False: Income is money earned by working or by having investments that earn money.
When a person goes online to send money from their account to somebody else’s, they are doing this:
A. Using an e-wallet
B. Making a donation
C. Making an e-transfer
D. Following a budget
What is C. Making an e-transfer
A toy has a price of $9.99 on it. Estimate the tax that will be charged on it.
A. $1.30
B. Nothing, toys have no tax.
C. $13
D. $0.70
What is A. $1.30
True or false?
A savings account is one way that you might be able to earn interest on money you have
What is true
A student collected $19 for each kilometre of a 22 km walkathon. What was the total amount the student raised after completing the walk?
A. $418
B. $4180
C. $41
D. $440
What is A. $418
True or false?
The word “expense” is used in a budget to refer to money that you might plan to spend on anything at all
What is True.
A twenty-year-old who wants to buy a car might need one of these to pay for it over time.
A. A driver’s licence
B. New licence plates
C. A loan
D. A new bank account
What is C. A loan
The Government of Canada collects this tax when people buy things such as furniture or clothes.
A. Provincial sales tax (PST)
B. Value-added tax (VAT)
C. Harmonized Sales Tax (HST)
D. Goods and Services Tax (GST)
What is D. Goods and Services Tax (GST)
A family planning to buy a new house might need one of these from a bank:
A. A new home inspection
B. A new savings account
C. A mortgage
D. A new job
What is C. A mortgage
Notebooks cost $12 for a package of 3. How much is that for each notebook?
A. $3
B. $4
C. $36
D. $6
What is B. $4
A store credit means that you return something to the store and then you can do this:
A. Owe the store money for a new purchase
B. Buy something different for the same value
C. Work at that store
D. Use a credit card to make a new purchase
What is B. Buy something different for the same value