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ch.3 Taxation Vocabulary

Total questions: 19

Worksheet time: 10mins

Name
Class
Date
1.

Total income before payroll deductions.

a)

commission

b)

tip

c)

bonus

d)

gross pay

2.

income paid as a percentage of sales made by a salesperson.

a)

commission

b)

tip

c)

bonus

d)

gross pay

3.

Money added to an employee's vase pay.

a)

Commission

b)

Tip

c)

Bonus

d)

Gross pay

4.

Money paid beyond services that are required.

a)

Commission

b)

Tip

c)

Bonus

d)

Gross pay

5.

a wage based on the amount of work which is completed.

a)

wage

b)

levy

c)

piecework

d)

salary

6.

tax means to use legal authority to impose a payment

a)

wage

b)

levy

c)

piecework

d)

salary

7.

a fixed payment for work and is expressed as an annual figure.

a)

wage

b)

levy

c)

piecework

d)

salary

8.

payment for work that is usually calculated on an hourly, daily, or piecework basis.

a)

wage

b)

levy

c)

piecework

d)

salary

9.

the income received from employment, including self-employment

a)

earned income

b)

unearned income

c)

taxable income

d)

taxable deduction

10.

earnings from sources other than work.

a)

unearned income

b)

earned income

c)

taxable deduction

d)

taxable income

11.

The amount of income which is taxed.

a)

earned income

b)

unearned income

c)

taxable income

d)

tax deductions

12.

Government approved items that will not count towards gross income.

a)

unearned income

b)

earned income

c)

taxable income

d)

tax deduction

13.

a government program that pays certain health-care costs for eligible, low-income individuals or families.

a)

Social Security

b)

Medicare

c)

Medicaid

d)

W-2 Form

14.

Wage and tax statement that shows your earnings and the amounts of income, Social Security and Medicare taxes withheld from your earned income annually.

a)

Social Security

b)

Medicare

c)

Medicaid

d)

W-2 Form

15.

a federal program that provides income when earnings are reduced or stopped because of retirement, serious illness or injury or spousal death.

a)

Social Security

b)

Medicare

c)

Medicaid

d)

W-2 Form

16.

a federal program that pays for certain health-care expenses for older citizens and other with disabilities.

a)

Social Security

b)

Medicare

c)

Medicaid

d)

W-2 Form

17.

the review of financial records and statements to make sure the information is accurate as reported.

a)

Dependent

b)

Audit

c)

Exempt

d)

Tax

18.

An amount that a tax payer can claim for each person who is dependent on that person's income.

a)

dependent

b)

audit

c)

tax

d)

exempt

19.

an Internal Revenue Service tax form completed by an employee in the United States to indicate his or her tax situation to the employer.

a)

W-2

b)

W-4

c)

Tax Reduction Form

d)

Social Security