5.10 |
The student applies mathematical process standards to manage one's financial resources effectively for lifetime financial security. The student is expected to:
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(A) |
define income tax, payroll tax, sales tax, and property tax;
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(B) |
explain the difference between gross income and net income;
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(C) |
identify the advantages and disadvantages of different methods of payment, including check, credit card, debit card, and electronic payments;
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(D) |
develop a system for keeping and using financial records;
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(E) |
describe actions that might be taken to balance a budget when expenses exceed income; and
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(F) |
balance a simple budget.
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