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WorksheetsINCOME
Total questions: 20
Worksheet time: 26mins
.......... is the life blood of any business
Cash
Labour
Material
None
Income may be defined as the true ............. in the amount of wealthy.
Decrease
Increase
Satic
All
What we receive in our pay cheque for the work we did in office is called ............
Gross Pay
Net Pay
Deductions
Allowances
For most working people ............ are the biggest deduction
Taxes
Allowances
Income
Net Pay
Indirect tax is the tax imposed by the government on one person and paid by.........
Same person
Another person
Government
Corporates
(a) income is the amount you earn for working at the office.
Income tax is a fees or levy charged by government on the (a) earned by an individual.
Taxes can be classifed in to two namely ......... and ..........
(a)
(a) is the subtraction from the gross pay.
(a) means money coming in
TRUE or FALSE
A budget is a plan for managing money during a given period of time.
(a)
TRUE or FALSE
When you get money on your birth day from your friend, it is income.
(a)
TRUE or FALSE
Winning from lotteries, card games etc are to be treated as income.
(a)
TRUE or FALSE
Direct tax is the tax imposed by the government on one person and paid by another person
(a)
TRUE or FALSE
Income can be received in cash only.
(a)
TRUE or FALSE
Indirect tax is the tax imposed by the government on one person and paid by that person only.
(a)
What do you mean by income?
What is a tax?
What is a disposable income?
Difference between gross income and net income.
