Ch. 19 Review

Pre-tax payroll ______ reduce the amount of income subject to taxes.

• Interest

• Creditors

• Deductions

• Collateral

Unincorporated businesses owned and run by a single person are called ______.

• Sole proprietorships

• Partnerships

• Corporations

• Stockholders

• Limited Liability Companies

Unincorporated businesses owned and operated by two or more people are called ______.

• Sole proprietorships

• Corporations

• Partnerships

• Stockholders

Stockholders are people who own a share or shares of stock in a corporation.

• Interest

• Creditors

• Stockholders

• Exemptions

Which is not a type of business organization?

• Sole Proprietorship

• Partnerships

• Stockholder

• Corporation

If you defaulted, you failed to __________.

• pay back a loan

• apply for financial aid

• qualify for health insurance

• give money to charity

As a rule of thumb, when renting an apartment, your monthly rent should not be more than the amount you earn in _________.

• 1 week

• 2 weeks

• 3 weeks

• 4 weeks

What is the deadline for filing a federal income tax return?

• January 31

• December 31

• August 15

• April 15

Banks, insurance companies, and credit unions are all considered financial institutions.

• True

• False

What is a United States government bond with a maturity of 30 years called?

• Portfolio Diversification

• Treasury Bonds

• Payroll Tax

• Financial Institution