Practice Test

Question 1

Based on the receipt, what is the sales tax rate in Sacramento, California?

Revolt · Accepted Answer

A: 8 point 5  percent

Question 2

A student who is interested in becoming an air traffic controller will make

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B: more money than an athletic trainer but will have a harder time finding a job.

Question 3

Which explains Lauren’s error?

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D: Lauren made an error in step 3 because she should have subtracted the expenses from the income.

Question 4

What does purchasing insurance for a business reveal about the business owner’s attitude toward financial risk?

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B: It shows that the owner acknowledges the financial risks and is willing to pay every month to transfer the risk to an insurance company.

Question 5

Bankruptcy is considered a last resort because it stays on someone’s record for

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B: seven to ten years.

Question 6

The best reason to record income at the top of a budget is

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C: to know how much money is available.

Question 7

What is the job outlook for a US postal worker?

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A: The career is shrinking and will provide fewer opportunities over time.

Question 8

Credit unions differ from retail banks because they are

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C: owned by their members.

Question 9

Quincy listed his assets and liabilities. Cash Rent Stocks Jewelry Student Loan Utilities Which are Quincy’s assets? Choose three correct answers.

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A: cash; D: stocks; E: jewelry

Question 10

What is the definition of gross income?

Revolt · Accepted Answer

C: amount earned before deductions

Practice Test Answers