Financial Maths Terms
Authored by Naoise Gallagher
Mathematics
7th - 9th Grade
Used 3+ times
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8 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is gross income?
Income before tax is deducted
Income after tax is deducted
Total savings
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is net income?
Income before tax is deducted
Income after tax is deducted
The portion of your income you pay in taxes
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is gross tax?
Tax before the tax credits are deducted
Tax after the tax credits are deducted
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
True or false:
Tax Payable = Gross Tax - Tax Credits
True
False
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What does "per annum" mean?
Per month
Per year
Per day
Per decade
6.
FILL IN THE BLANKS QUESTION
3 mins • 1 pt
Sarah earns €93,000 per annum. Her standard rate cut-off point is €44,300.
If the standard rate is 20% and the higher rate is 40%, calculate her gross tax.
(a)
7.
FILL IN THE BLANKS QUESTION
2 mins • 1 pt
If Sarah's gross tax is €28,340 and her tax credits are €3,300 calculate her tax payable.
(a)
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