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Unit 1 Vocabulary Quiz

Authored by Cynthia Faith

Financial Education

12th Grade

Used 5+ times

Unit 1 Vocabulary Quiz
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22 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Someone you financially support who can be "claimed" on a tax return to reduce your taxable income and lower your taxes

Continuous

Mutually Exclusive

Dependent

Independent

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The percentage at which taxes are paid on each dollar of income

Tax Rate

Tax Bracket

Payroll Tax

Efficiency Ratio

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An inspection of a filer's tax return by the IRS

Read

Preparation

Audit

Dividend

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The standard Internal Revenue Service (IRS) form that individuals can use to file their annual income tax returns

w-4

w-2

1040

1099

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Form used by an employer to verify an employee's identity and to establish that the worker is eligible to accept employment in the United States

W-4

I-10

E-3

I-9

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A federal program that provides monthly benefits to millions of Americans, including retirees, military families, surviving families of deceased workers, and disabled individuals

Unemployment Insurance

Social Security

Medicare

Food Stamps

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Definition: Income earned through interest on savings accounts, bonds, CDs, etc.

Dividend Income

Unearned Income

Income Tax

Interest Income

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