1) When you earn money it is called? a) pay b) income c) money d) expenses e) dollars f) cash 2) When you pay a bill it is classified as an? a) income b) need c) payment d) advantage e) expense f) idea 3) To calculate total savings we use the equation... a) Pay - tax b) Expenses - total income  c) Total income - expenses d) income - savings e) money - debt f) interest 4) What would you classify as a long term goal? a) buying McDonald's  b) saving for a car  c) saving for a house d) buying groceries e) buying a t-shirt f) saving for a pair of shoes 5) What is one of the 3 levels of Government in Australia?  a) Federal b) Queensland c) State d) Country e) Local f) Tasmania 6) What is a source of income? a) Salary b) Buying food c) Profit  d) Bills e) Wage f) Tax 7) What is an example of volunteer work a) working for a charity b) Doing house chores c) getting paid from a job d) working for free at a sports club e) earning money f) Helping the homeless

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