3.4 Getting and Giving the Correct Change: Pages 78 - 81

TODAY'S AGENDA: We are learning getting and giving the correct change.
1) With a partner read the following information.
2) Go through "How to give the correct change" slideshow.
3) Complete pages 78, 79, 80, and 81.
GROSS PAY  is an employee's total earnings ($) before any deductions are taken off.   DEDUCTIONS  are costs such as income tax, EI (Employment Insurace), CPP (Canada Pension Plan) that are removed from total earnings.
Money Matters
It is important to be able to handle money!
  • You need to be able to give people the correct amount when you buy something
  • You also need to check that you get the right change
  • You should also be able to give the correct change when you sell something
And being able to do this fast and accurately makes you look expert and efficient.


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In Economic Action Plan 2012, the Government announced it would phase out the penny from Canada's coinage system.  

Rounding Guidelines
As pennies exit circulation, cash payments or transactions only will need to be rounded, either up or down, to the nearest five-cent increment.
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When to round
Again, only cash transactions require rounding.  Cheques and transactions using electronic payments—debit, credit and payments cards—do not need to be rounded, because they can be settled electronically to the exact amount.

For any cash payment, only the final amount (or equivalently, the change owed) should be subject to rounding.  Individual items, as well as any duties, fees or taxes, should be tabulated in their exact amount prior to rounding, as illustrated: 

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Adapted from www.mint.ca
How to give and get the correct change?
Click on the image below and play the slideshow.
Adapted from www.wikihow.com