
Taxation Quiz
Quiz
•
Business
•
12th Grade
•
Medium
Belinda Jones
Used 2+ times
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29 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the standard Internal Revenue Service (IRS) form that individuals can use to file their annual income tax returns?
1040
I-9
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which form details all "non-employee" compensation, including for specific jobs like freelancers or contractors?
1099
I-9
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is an inspection of a filer’s tax return by the IRS called?
Exemption
Audit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the profit from the sale of an asset, such as a stock or a bond, called?
Interest Income
Capital Gain
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the percentage of profits paid by a business to the federal and state government called?
Excise Tax
Corporate Income Tax
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is someone you financially support and can be "claimed" on a tax return to reduce your taxable income?
Medicaid
Dependent
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is money from the profits of a company that is paid out to its shareholders, typically on a quarterly basis, called?
Dividend
Interest Income
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