JA Finance Park 1 - Income

Your abilities include:

• The things you do well
• Your mental competence
• The skill you need to do something
• All of the above

Career planning is done:

• After high school
• In college
• Throughout a lifetime
• Once in a lifetime

Who pays taxes?

• Most people who have a job
• Most people who purchase items
• Most people who own property
• All of the above

What are the three main types of taxes?

• Income, sales, and property
• Unemployment, sales, and property
• Federal income, unemployment, and state
• Sales, property, and unemployment

What is Social Security?

• A private insurance system just for the elderly
• A free insurance system
• The amount of money someone has
• None of the above

The purpose of taxes is to: 

• Improve roads
• Support government
• Pay retirement benefits
• All of the above

Who pays into Social Security?

• Employees
• Self-employed
• Employers
• All of the above

Federal, Social Security, and Medicare are all types of taxes.

• True
• False

The total amount of earnings made over a one-year period after all deductions have been taken is known as:

• Gross annual income
• Gross monthly income
• Net annual income
• Net monthly income

The total amount of earnings made over a month, before any deductions, is known as:

• Gross annual income
• Gross monthly income
• Net annual income
• Net monthly income