Financial Management Review

The total amount of earnings made over a one-year period after all deductions have been taken is known as

• Gross Annual Income

• Gross Monthly Income

• Net Annual Income

• Net Monthly Income

What is Social Security

• A private insurance system just for the elderly

• A free insurance system

• The amount of money someone has

• None of the above

Who pays into Social Security?

• Employees

• Self-employed

• Employers

• All of the above

Who pays taxes?

• Most people who have jobs

• Most people who purchase items

• Most people who own property

• All the above

The purpose of taxes is to

• Improve roads

• Support the government

• Pay retirement benefits

• All the above

What are the three main types of taxes?

• Income, sales, and property

• Unemployment, sales, and property

• Federal income, unemployment, and state

• Sales, property, and unemployment