Великанова Софья

What is meant by "percentage breakdown"?

• Total amount of money spent

• Budget breakdown by category

• Type of tax deduction

• Form of investment

Which of the following is NOT considered a type of Social Security benefit?

• Medical benefits

• Pension benefits

• Property taxes

• Unemployment benefits

The term “tax burden” refers to:

• The amount of tax paid by an individual or organization

• The total revenue collected by the government

• Benefits received from Social Security

• The amount of debt incurred by the government

What does “exemption limit” mean?

• The maximum amount that can be exempt from taxation

• The total income required to receive Social Security benefits

• The minimum tax rate set by law

• The total expenses allowed in the budget

Legislative power allows lawmakers to create new tax breaks and deductions.

• TRUE

• FALSE

Government spending only applies to spending on infrastructure projects.

• TRUE

• FALSE

A tax return is a document filed with the government to report income and calculate tax liability.

• TRUE

• FALSE

Tracking and managing cash flow effectively means tracking and managing income and expenses effectively

The government can provide a tax break from certain taxes to nonprofit organizations.

When businesses earn more than expected, they may face profits that are subject to higher taxes.