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FINANCIAL MATHEMATICS

Total questions: 11

Worksheet time: 6mins

Name
Class
Date
1.

Which type of tax is described below?


Cassidi is going on a golfing trip. Before the trip, she buys new golf clubs that have a price of $225.00. She pays a total of $245.25 for the golf clubs.

a)

payroll tax

b)

property tax

c)

sales tax

2.

Which type of tax is described below?


Aubree makes baby blankets that she sells online and at craft fairs. This year, she pays $680 in tax on the profits from her baby blankets.

a)

income tax

b)

property tax

c)

sales tax

3.

Which type of tax is described below?


Mr. Sheffield is installing an in-ground pool in his yard. He will have to pay $600 more in tax per year on his house because of the pool.

a)

payroll tax

b)

property tax

c)

sales tax

4.

consumption tax imposed by the government on the sale of goods and services

a)

Sales tax

b)

Income tax

c)

luxury tax

5.

Who receives sales tax

a)

State government

b)

Local government

c)

Federal Government

d)

The employees

6.

When you start a new job you will fill out a...

a)

1040

b)

w-2

c)

w-4

7.



(a)  

8.



(a)  

9.



(a)  

10.

For Mother's Day, Cooper gets a $14 picture frame for his grandma. The sales tax is $0.07 for every dollar. How much sales tax will Cooper have to pay?

(a)  

11.

This is the federal agency who is responsible for collecting income taxes in the US

a)

FBI

b)

FDIC

c)

IRS

d)

MLB