Mastery Quiz Finance

Savannah earned $1300.00 at her job. Her paycheck was made out in the amount of $973.22. What kind of tax was taken out of her earnings?

• sales
• payroll
• income
• property

Alex bought a new car priced at $13,840 but he paid $14,597. What kind of tax did he pay?

• property
• payroll
• income
• sales

A city collects money from the people who live in it to pay for police protection and other city services. People who own houses or land pay this tax. What kind of tax is this?

• sales
• income
• property
• payroll

Everybody who earns money has to pay taxes to the government. What kind of tax is this?

• payroll
• sales
• income
• government

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $436.54 represent?

• net income
• sales tax
• gross income
• payroll tax

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $334.16 represent?

• net income
• sales tax
• gross income
• payroll tax

Dan earns $436.54 a week at his job. $102.38 is taken out and he takes home $334.16. What does $102.38 represent?

• net income
• sales tax
• gross income
• payroll tax

The total amount of income from wages before any payroll deductions.

• property tax

• gross income

The amount of money a person takes home after taxes and other deductions.

• net income

• gross income

Before taxes and deductions, Mrs. Allen's pay was $1,600. This is considered her -

• net income

• gross income

• deposits

• income tax