WorksheetsTax and Finance Quiz 2024
Total questions: 14
Worksheet time: 7mins
Name
Class
Date
1.
The institution charged with stabilizing the value of the American dollars is
a)
Presidency
b)
Federal Reserve
c)
World Trade Organization
d)
Interanational Monetary Fund
2.
Which of the following is the US Government's primary method of raising funds for federal expenditures?
a)
Excise Tax
b)
Sales Tax
c)
Income Tax
d)
Property Tax
3.
Progressive income taxes
a)
incrase the tax rate as income increases
b)
decrease the total tax as income incrases
c)
maintain a constant tax rate as income incrases
d)
decrease the tax rate as income increases
4.
Deductions allow taxpayers to
a)
protect some of their income taxation
b)
avoid having taxes withheld from their paychecks
c)
purchase goods and services sales-tax free
d)
increase their pre-tax personal incomes
5.
The withholding tax that contributes to Social Security and Medicare is known as
a)
FICA
b)
FDIC
c)
AMT
d)
VAT
6.
The act of taking money out of an employee's paycheck and paying it to the government as advance payment for income taxes is known as
a)
withholding
b)
adding to the tax base
c)
proportional taxation
d)
filing tax returns
7.
The main purpose of of a progressive income tax is to
a)
decrease the need for social programs
b)
incrase government spending on welfare
c)
tax everyone equally
d)
tax individuals based on their abiltites to pay
8.
The paperwork that people use to determine how much tax their either owe, or are owed by , the government is known as
a)
a deduction request
b)
a tax return
c)
withholding
d)
a voluntary contribution form
9.
In fractional reserve banking system, money is said to be created when
a)
the goverment sells bonds to teh public
b)
loans are made of by banks using their excess reservers
c)
checks are cashed at the central bank
d)
loans are repaid back to corporations
10.
Corporations can raise capital by which of the following means?
a)
Selling stock and issuing bonds
b)
Printing money and issuing bonds
c)
Selling Stock and Buying Stock
d)
Printing money and selling stock
11.
When a group of individuals pools its stocks and bonds and has these investments managed b a professional, the arrangement is known as a
a)
mutual fund
b)
stock opiton
c)
certificate of deposit
d)
passbook savings account
12.
Which of the following agencies serves to collect taxes for the US government
a)
Internal Revenue Service (IRS)
b)
Federal Deposite Insurance Corporation (FDIC)
c)
Securities and Exchancge Commission (SEC)
d)
Federal Reserve System
13.
What is a stock index useful for?
a)
tracking the overall performance of a group of stocks
b)
indicating what is happening with fiscal policy
c)
tracking how the economy is doing as a whole
d)
indicating what is happening with monetary policy
14.
A bull market indicates
a)
the stock market is performing poorly overall
b)
the stock market is performing well overall
c)
the economy is performing well
d)
the economy is in a recession
100 %
