
Income as a Scare Resource
Authored by Savage Dude
Business
12th Grade
Used 2+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is a key characteristic of an hourly wage?
Paid a fixed amount annually
Includes mandatory deductions
Paid per hour worked
Not subject to overtime
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which type of income requires self-employment tax payments?
Salary
Tips
Dividends
Independent Contractor (Form 1099)
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the standard deduction for a single filer in 2024?
$12,000
$14,600
$15,000
$18,500
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the difference between gross pay and net pay?
Net pay includes bonuses
Gross pay is before deductions, net pay is after
Gross pay is deposited in your account
Net pay is before taxes
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What financial tool helps track income and expenses?
Investment portfolio
Budget
Credit report
Mortgage statement
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Why is reconciling a bank account important?
To increase credit score
To compare bank statements with records
To avoid paying taxes
To increase net worth
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following is a fixed expense?
Groceries
Rent
Entertainment
Clothing
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