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Topic 8 - Taxes and Spending

Total questions: 35

Worksheet time: 18mins

Name
Class
Date
1.

a tax based on a company's profits

a)

budget

b)

corporate income tax

c)

tax base

d)

withholding

2.

tax based on a person's earnings

a)

individual income tax

b)

tax

c)

personal exemption

d)

entitlement

3.

a tax for which the percentage of income paid in taxes increases as income increases

a)

taxable income

b)

real property

c)

burden

d)

progressive tax

4.

a tax based on real estate and other property

a)

tax base

b)

property tax

c)

provision

d)

welfare

5.

a tax for which the percentage of income paid in taxes remains the same as income increases

a)

installment

b)

proportional tax

c)

provision

d)

gift tax

6.

a tax for which the percentage of income paid in taxes decreases as income decreases

a)

tax credit

b)

real property

c)

regressive tax

d)

tax exempt

7.

a tax based on goods or services that are sold

a)

sales tax

b)

taxable income

c)

balanced budget

d)

heir

8.

a required payment to a local, state, or national government

a)

denounce

b)

tax return

c)

tax assessor

d)

tax

9.

the income, property, good or service that is subject to a tax

a)

tax base

b)

sales tax

c)

provision

d)

corporate income tax

10.

a tax on the total value of the money and property of a person who has died

a)

tax deduction

b)

tax incentive

c)

balanced budget

d)

estate tax

11.

a tax on the money or property that a living person gives to another

a)

tax base

b)

gift tax

c)

progressive tax

d)

heir

12.

a set amount that tax payers may subtract from their gross income for themselves, their spouses, and any dependents

a)

tax assessor

b)

personal exemption

c)

tax return

d)

tax credit

13.

the earnings on which tax must be paid; total income minus exemptions and deductions

a)

real property

b)

installment

c)

taxable income

d)

deduction

14.

a variable amount that taxpayers may subtract from the total amount of their income tax

a)

income tax

b)

tax credit

c)

tax base

d)

entitlement

15.

a variable amount that taxpayers may subtract from their gross income

a)

tax deduction

b)

corrections

c)

provision

d)

expenditure

16.

the use of taxation to encourage or discourage certain types of behavior

a)

progressive tax

b)

tax incentive

c)

sales tax

d)

budget

17.

a form used to file income taxes

a)

discretionary spending

b)

mandatory spending

c)

welfare

d)

tax return

18.

taking tax payments out of an employee's pay before he or she receives it

a)

dilemma

b)

denounce

c)

withholding

d)

real property

19.

spending about which Congress is free to make choices

a)

welfare

b)

discretionary spending

c)

heir

d)

installment

20.

social welfare program that people are "entitle to" benefit from if they meet certain eligibility requirements

a)

entitlement

b)

burden

c)

welfare

d)

tax exempt

21.

spending that Congress is required by existing law to do

a)

provision

b)

mandatory spending

c)

corrections

d)

withholding

22.

a budget in which revenue and spending are equal

a)

entitelement

b)

tax

c)

property tax

d)

balanced budget

23.

an estimate of future revenue and expenses

a)

budget

b)

installment

c)

estate tax

d)

taxable income

24.

land and any permanent structures on the land to which a person has legal title

a)

property tax

b)

real property

c)

sales tax

d)

tax base

25.

an official who determines the value of property

a)

personal exemption

b)

denounce

c)

progressive tax

d)

tax assessor

26.

not subject to taxes

a)

tax exempt

b)

regressive tax

c)

personal exemption

d)

tax deduction

27.

something that is carried or borne

a)

provision

b)

dilemma

c)

burden

d)

corrections

28.

a requirement established by law

a)

tax

b)

provision

c)

budget

d)

individual income tax

29.

the good fortune or well being of a person or group

a)

tax return

b)

estate tax

c)

tax incentive

d)

welfare

30.

a person who is entitled to inherit the estate of someone

a)

heir

b)

withholding

c)

mandatory spending

d)

entitlement

31.

one in a series of something

a)

corrections

b)

provision

c)

balanced budget

d)

installment

32.

to criticize

a)

denounce

b)

budget

c)

tax base

d)

mandatory spending

33.

a situation with unsatisfactory, but necessary, choices

a)

tax incentive

b)

dilemma

c)

gift tax

d)

individual income tax

34.

having to do with the treatment or rehabilitation of criminals

a)

provisions

b)

denounce

c)

corrections

d)

expenditure

35.

an amount spent

a)

progressive tax

b)

witthholding

c)

expenditure

d)

tax return