Taxes, Income, and Balanced Budget

Taxes, Income, and Balanced Budget

Assessment

Flashcard

Mathematics

4th - 6th Grade

Hard

Created by

Wayground Content

FREE Resource

Student preview

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15 questions

Show all answers

1.

FLASHCARD QUESTION

Front

What is Payroll Tax?

Back

A tax that is withheld from an employee's paycheck to fund Social Security and Medicare.

2.

FLASHCARD QUESTION

Front

What is Sales Tax?

Back

A tax added to the price of goods and services at the time of purchase.

3.

FLASHCARD QUESTION

Front

What is a Balanced Budget?

Back

A budget where total income equals total expenses, meaning no deficit.

4.

FLASHCARD QUESTION

Front

What is Gross Income?

Back

The total amount of money earned before any deductions or taxes.

5.

FLASHCARD QUESTION

Front

What is Net Income?

Back

The amount of money a worker takes home after taxes and deductions are subtracted from gross income.

6.

FLASHCARD QUESTION

Front

What is Income Tax?

Back

A tax imposed on individuals or entities based on their income.

7.

FLASHCARD QUESTION

Front

What is Property Tax?

Back

A tax based on the value of owned property, usually paid to local governments.

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