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Team 2
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Teams
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Score
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15
×
Give some examples of recurring revenues.
Paychecks, alimony, social security benefits.
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Check
Okay!
Check
15
×
Is an oral,verbal business contract binding?
Yes, it is binding.
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Check
Okay!
Check
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thief
Give points!
5
10
15
20
25
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gift
Win 20 points!
Okay!
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fairy
Take points!
5
10
15
20
25
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baam
Lose 25 points!
Oops!
15
×
Lincoln Literacy is a non-profit organization. Can it be considered a business?
No, because it makes no profit.
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Check
Okay!
Check
15
×
What is the third party check?
It's a check which you give to somebody after endorsement.
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Check
Okay!
Check
15
×
What does NSF acronym stand for?
Non-Sufficient-Funds
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15
×
Does printing more money have any effect on inflation?
Yes, it increases overall inflation.
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Check
Okay!
Check
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seesaw
Swap points!
Oops!
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shark
Other team loses 25 points!
Okay!
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rocket
Go to first place!
Okay!
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banana
Go to last place!
Oops!
15
×
Jack and Jill file tax return jointly. Standard deduction is $24,800, itemized deduction $32,000. Which number should they use on their tax return?
They should use their itemized deduction, because it is larger of the two.
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Check
Okay!
Check
15
×
Do you have to file tax return regardless of your income?
No, if you have no income, you don't file.
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Check
Okay!
Check
15
×
What is bank reconciliation in your own words?
A process of making sure that your checkbook balance and your bank balance agree to each other (non necessarily equal).
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Check
Okay!
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15
×
Give some examples of recurring expanses.
Rent, utility bills, mortgage payments, groceries.
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Check
Okay!
Check
15
×
What does American government tax, your wealth or your income?
Your income.
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15
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What's the difference between alimony and child support?
Alimony is a support, assigned by a court to one of the spouses to cover his/her living expenses. Child support- to cover children' expenses.
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Check
Okay!
Check
15
×
What can causes a non-sufficient fund situation?
Not having enough money in your account to cover a check which you wrote.
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Check
Okay!
Check
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eraser
Reset score!
Oops!
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star
Double points!
Okay!
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fairy
Take points!
5
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15
20
25
×
lifesaver
Give 20 points!
Oops!
×
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