Taxes

Taxes

Assessment

Flashcard

Mathematics

5th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

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15 questions

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1.

FLASHCARD QUESTION

Front

What is a tax?

Back

A tax is a mandatory financial charge imposed by a government on individuals or businesses to fund public services and infrastructure.

2.

FLASHCARD QUESTION

Front

What is Income Tax?

Back

Income Tax is a tax that individuals or businesses pay on their earnings or profits.

3.

FLASHCARD QUESTION

Front

What is Property Tax?

Back

Property Tax is a tax based on the value of real estate property, usually paid annually.

4.

FLASHCARD QUESTION

Front

What is Sales Tax?

Back

Sales Tax is a tax added to the price of goods and services at the time of purchase.

5.

FLASHCARD QUESTION

Front

What is Payroll Tax?

Back

Payroll Tax is a tax that employers withhold from employees' wages to fund social security and Medicare.

6.

FLASHCARD QUESTION

Front

How is Income Tax calculated?

Back

Income Tax is calculated based on the amount of money earned, with different rates applied to different income brackets.

7.

FLASHCARD QUESTION

Front

What happens to Property Tax when the value of a house increases?

Back

When the value of a house increases, the Property Tax usually increases as well.

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