
Personal & Finance A Flashcard
Flashcard
•
Other
•
10th Grade
•
Practice Problem
•
Hard
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20 questions
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1.
FLASHCARD QUESTION
Front
What is TRUE about a bartering system?
Back
It allows people to exchange goods without using money or any other type of financial item.
2.
FLASHCARD QUESTION
Front
What is it called when the government initiates action against companies that appear to have too much power?
Back
antitrust suits
3.
FLASHCARD QUESTION
Front
How do brokerage firms primarily make their profits?
Back
fees or commissions on sales or transfers
4.
FLASHCARD QUESTION
Front
Amanda submitted her taxes, but someone from the IRS called her because they want to talk more about her tax return. What is Amanda MOST likely experiencing?
Back
tax audit
5.
FLASHCARD QUESTION
Front
River and Pat are married. They always combine their incomes on one tax return. Which tax status do they choose?
Back
married, filing jointly
6.
FLASHCARD QUESTION
Front
Monique receives a check each month from the tenants living in the townhomes she owns. What type of income is this considered?
Back
passive income
7.
FLASHCARD QUESTION
Front
What is TRUE about taxes?
Back
The tax money comes out of the citizen’s earned income and overall wealth.
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