Dave Ramsey Personal Finance Chapter 11

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

• Tax collecting and law enforcement

• writing tax laws

• keeping the unemployment rate low

• Filling out your tax forms

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:

• Consumption

• Property

• Wealth

• Income

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

• What you are naturally good at

• What your parents think you should do

• What you are passionate about

• What your interests are

Which of the following are characteristics of an effective goal?

• It should be vague

• It should be easy to accomplish

• It should be determined by your your friends or parents

• It should be measured and specific

Which of the following statements about goal setting is false?

• You should make your goals challenging yet attainable.

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

• Once you've written your goals down, you should put the list away and check it in a year to see if you've achieved them

• Your goals should have time limits.

When it comes to mentoring, you should not:

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

• Choose wisely

• Find and keep a single mentor

• Follow through and act on what you learned

When applying for a job, you should:

• Provide a resume and cover letter

• Follow up with the employer

• Present yourself well

• All of the above

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

• Show interest and be enthusiastic

• Ask about salary

• Be personable and try to connect with the interviewer

• Bring extra copies of your resume

The government relies on taxes to:

• Remind citizens of the government's power

• Burden the public with an extra expense

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

• All of the above