PFL Vocabulary Quiz

Which term best fits with this definition?

A tax on retail products based on a set percentage of retail costs.

• Income Tax
• Payroll Tax
• Property Tax
• Sales Tax

Ms. Parvin pays a tax every year because she owns a house.  Which term best describes this tax?

• Payroll Tax
• Property Tax
• Income Tax
• Sales Tax

Tags

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.W.6.2D

CCSS.RI.4.4

CCSS.W.4.2D

Which term best fits this definition?
A tax that includes Social Security and Medicare taxes and is paid by an employer.

• Payroll tax
• Property tax
• Sales tax
• Income tax

Mrs. Adams pays money to the federal government every April based on how much money she has earned the previous year.  Which tax does she pay each April?

• Sales tax
• Property tax
• Income tax
• Payroll tax

Tags

CCSS.7.RP.A.3

Net pay is...

• Your take home pay after taxes
• Your total income before taxes.
• Amount of tax you pay to the government
• Amount of tax your employer pays to governement

Tags

CCSS.7.RP.A.3

What is all the taxable income you receive? This is the amount of money you make before taxes and deductions are taken out.

• adjusted
• gross
• net
• pay

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

A tax is money sent to our government.

• True
• False

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Income tax is paid to the federal government. Many states also have a state income tax. Texas has a state income tax.

• True
• False

Social Security and Medicare are both taken out of your check and paid to your employer.

• True
• False

In most states, items that are considered essential to basic survival are exempt from sales tax.

• True
• False

Tags

CCSS.RI.5.4

CCSS.W.5.2D

CCSS.W.6.2D

CCSS.L.4.6

CCSS.L.6.6