Which of these best describes the difference between gross pay and net pay?

NEW Personal Finance Final Exam

Quiz
•
Other
•
11th - 12th Grade
•
Medium
Ashley Turner
Used 103+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross pay is the amount you make the entire year and net pay is the amount you make on each paycheck
Gross pay is the amount your employer pays you and net pay is the amount of taxes you pay the government
Gross pay includes salary, tips, commissions, and bonus, while net pay is just your salary
Gross pay is the entire amount you earn that pay period, and net pay is the amount you take home after taxes and other deductions are paid
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which set of items would be appropriate to include on your resume during high school.
Education, computer skills, starting salary request
Volunteer experience, sports team participation, computer skills
Requested vacation days, education, special dietary needs
Education, scheduling requests, personal references
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You receive this form when you start a job. You use it to prove you are eligible to work in the US.
I-9
1099
1040EZ
W-4
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When do you start paying taxes?
When you turn 18
When you make more than the minimum income requirement
When you get a full-time job (part-time does not count)
When you are notified by the IRS that you are required to pay federal income taxes
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following does NOT describe what a "dependent" is for tax purposes?
Children under the age of 18
Anyone permanently disabled
All students
Full-time students under the age of 24
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The largest source of fees for banks when it comes to checking accounts.
Overdraft fees
Wire transfer fees
Check printing fees
Interest expense
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If following the 50-20-30 rule - 50% goes towards ___, 20% goes towards ___, and 30% goes towards ____.
needs, wants, savings
savings, needs, wants
needs, savings, wants
wants, needs, savings
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