Into to Business Jan 2023 Combo

What is gross pay?

• Rate of pay multiplied by hours worked

• Rate of pay multiplied by hours worked minus all deductions

• Rate of pay multiplied by deductions and subtracted from net pay

• Net pay multiplied by gross wages

What is net pay?

• Rate of pay multiplied by hours worked

• Rate of pay multiplied by hours worked minus all deductions

• Rate of pay multiplied by deductions and subtracted from net pay

• Net pay multiplied by gross wages

Full time employment in the United States is usually considered to be

• 32 hours

• 40 hours

• 42 hours

• 24 hours

Does Washington State have a state income tax?

• No

• Yes

What is Federal Income Tax?

• Taxes levied on a U.S. citizen's personal income

• Taxes on your real property paid to the county

• Taxes paid on your personal income to the State Government

• A Federal program paying disabled workers

What is generally considered to be the simplest type of a business structure

• Partnership

• Corporation+

• Limited Liability Corporation

• Sole Proprietorship

You might choose a Limited Liability Corporation (LLC) over a Sole Proprietorship because

• an LLC is the bomb

• the LLC can help protect you from lawsuits as it adds a layer of protection/separation

• go Seahawks

• landshark

What is revenue?

• The money remaining in a business after all expenses and deductions have been taken.

• Income generated from business operations/sales

• The amount of cash on had for daily business operation.

• All of the answers are correct.

What is the retail price?

• The price the consumer pays when purchasing goods and services.

• The price a business pays when purchasing goods and services from another business

• The cost of goods sold

• The cost of goods sold minus all expenses

What is the wholesale price?

• The price the consumer pays when purchasing goods and services.

• The price a business pays when purchasing goods and services from another business

• The cost of goods sold

• The cost of goods sold minus all expenses