Dave Ramsey Chapter 11 Quiz

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

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 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 day that income tax filings are due in the United States:

• June 15

• January 1

• April 15

• December 1

When a company hires you, you fill out a ____ form. The information on this form is the basis for determining how much income tax should be withheld from your paycheck

• W-4

• W-2

• 1040EZ

• 1099

This tax pays for benefits that workers and families receive for either Social Security or Medicare

• State income tax

• Sales tax

• Federal Insurance Contributions Act (FICA)

• Excise Tax

The amount of money a profession brings should be your first priority in selecting you career.

• True

• False