Taxes and Functions Unit Test

Front

What are the two largest expenditures in state spending?

Back

Education and health care.

Front

Which of the following is NOT a common payroll deduction?

Back

Office supplies and equipment.

Front

What is the profit function for Gertrude selling cabbages?

Back

p(c) = 5c - 50, where c is the number of cabbages sold.

Front

What is the domain of the profit function p(c) = 5c - 50 if Gertrude brings 100 cabbages?

Back

0 ≤ c ≤ 100.

Front

What is the range of the profit function p(c) = 5c - 50 if Gertrude brings 100 cabbages?

Back

-50 ≤ p(c) ≤ 450.

Front

How do you calculate the percentage of deductions from gross pay?

Back

(Total deductions / Gross pay) * 100.

Front

If gross pay is $1740 and deductions are $395.15, what percentage is withheld?

Back

22.7%.

Front

What does it mean if Maricela's W-2 states $2,670 was withheld and she owes $2,493?

Back

She will receive a refund of $177.

Front

What is the formula for calculating profit?

Back

Profit = Revenue - Costs.

Front

What is FICA?

Back

Federal Insurance Contributions Act; it includes Social Security and Medicare taxes.