DR - Income & Taxes - Ch 11

The Internal Revenue Service (IRS) is the federal government agency responsible for:

• Keeping the unemployment rate low

• Writing tax laws

• Filling out your tax forms

• Tax collection and tax law enforcement

What is the difference between gross pay and net pay?

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

• Gross pay describes your pay after deductions; net pay is before.

• Gross and net pay are the same.

• None of the above

Sales tax and excise tax are both taxes on:

• Income

• Wealth

• Consumption

• Property

Which of the following should not be a major consideration when it comes to selecting your career

path?

• What you are naturally good at

• What your interests are

• What your parents think you should do

• What you are passionate about

Which of the following are characteristics of an effective personal goal?

• It should be measurable and specific.

• It should be determined by your friends or parents.

• It should be easy to accomplish.

• It should be vague.

Which of the following statements about goal setting is false?

• You should share your goals with the people closest to you.

• Your goals should have time limits.

• Once youʹve written your goals down, you should put the list away and check it in a year

  to see if youʹve achieved them.

• You should make your goals challenging yet attainable.

When it comes to mentoring, you should not:

• Follow through and act on what youʹve learned

• Choose wisely

• Continue the mentoring cycle by one day becoming a mentor yourself

• Find and keep a single mentor

When applying for a job, you should:

• Follow up with the employer

• Present yourself well

• Provide a resume and cover letter

• All of the above

During your first interview with a company, you should not:

• Be personable and try to connect with the interviewer

• Show interest and be enthusiastic

• Ask about salary

• Bring extra copies of your resume

The government relies on taxes to:

• Remind citizens of the governmentʹs power

• Burden the public with an extra expense

• Pay for services such as roads, education and social services

• All of the above