Unit 3 Test Review Consumer Math

Unit 3 Test Review Consumer Math

Assessment

Flashcard

Mathematics

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

Student preview

quiz-placeholder

15 questions

Show all answers

1.

FLASHCARD QUESTION

Front

FICA deductions are __________.

Back

Mandatory and based on gross income.

2.

FLASHCARD QUESTION

Front

What is the difference between Gross Pay and Net Pay?

Back

Net pay describes your pay after deductions; gross pay is before.

3.

FLASHCARD QUESTION

Front

Calculate the total for fixed expenses: Rent: $1,200, Utilities: $150, Credit card payments: $80, Groceries: $120, New Clothes: $60.

Back

Total fixed expenses = $1,200 + $150 + $80 + $120 + $60 = $1,610.

4.

FLASHCARD QUESTION

Front

Which of the following statements about payroll deductions is true?

Back

Deductions such as FICA and federal income tax are mandatory.

5.

FLASHCARD QUESTION

Front

You work 35 hours a week for 51 weeks. Which option will result in the highest annual income?

Back

$40,000 per year plus a 5% annual bonus.

6.

FLASHCARD QUESTION

Front

Define Gross Pay.

Back

Gross Pay is the total amount earned before any deductions.

7.

FLASHCARD QUESTION

Front

Define Net Pay.

Back

Net Pay is the amount earned after all deductions have been taken out.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?