Business and Financial Math EOC

First Name

Last Name

Email address (Buckeye Email)

Period

1. The purpose of insurance is to:

• Provide an investment opportunity
• Transfer financial risk
• Develop a savings plan
• All of the above

2. Which of the following things cannot be done with a debit card but can be done with a credit card?

• Go into debt
• Purchase an airline ticket
• Rent a car
• Purchase something online

3. Which of the following statements if false?

• On-the-job training often combines a professional trainer, hands -on activities and formal classroom training.
• All high-paying careers require a four-year college degree.
• An associateʹs degree is a two-year degree that can offer specialized training and a flexible schedule that allows you to work while you earn your degree.
• Students who are looking to learn specific skills can look into free or low -cost certifications found online, at community colleges, or through government-funded programs.

4. When an employee requests and agrees for tax to be withheld from their paycheck, this is known as _____ .

• Captial Gains Tax
• FICA
• Internal Revenue Service
• Voluntary Payroll Deductions

5. A United States government agency that is responsible for the collection and enforcement of taxes is known as ____ .

• FICA
• FICS
• IRS
• IRA

6. An unbiased examination and evaluation of the financial statements of an organization is known as _____ .

• Assessment
• Audit
• Examination
• Inspection