WorksheetsIntro Topic 2 Quiz Review
Total questions: 20
Worksheet time: 10mins
Name
Class
Date
1.
Comes from working a job
a)
unearned income
b)
income
c)
earned income
d)
wealth
2.
It is getting money without having to work for it directly.
a)
earned income
b)
income
c)
wealth
d)
unearned income
3.
Money that a person or a business receives in return for working, providing a product or service, or investing capital
a)
Wealth
b)
Earned Income
c)
Income
d)
Unearned Income
4.
Implies money or valuable possessions accumulated by a person during his life.
a)
Earnings
b)
Wealth
c)
Income
d)
Earned Income
5.
The money you have made
a)
earnings
b)
wealth
c)
income
d)
unearned income
6.
The total amount you earn before deductions are subtracted
a)
Net Pay
b)
Deductions
c)
Gross Pay
d)
Earnings
7.
The amount subtracted from your gross pay
a)
Allowances
b)
Net Pay
c)
Deductions
d)
Employee Benefits
8.
The amount taken out of your paycheck for taxes.
a)
Net Pay
b)
Employee Benefits
c)
Allowances
d)
Income
9.
When all deductions are taken out of gross pay.
a)
Net Pay
b)
Employee Benefits
c)
Tax
d)
IRS
10.
Offered to employees over and above what they receive as a salary.
a)
Employee Benefits
b)
Tax
c)
IRS
d)
Tax Bracket
11.
A tax form that is completed by your employer and needed for you to complete your tax return forms
a)
W-4
b)
1040
c)
W-2
d)
I-9
12.
A form that you complete for your employer to determine how much will be withheld from your paycheck
a)
W-4
b)
1040
c)
W-2
d)
I-9
13.
A tax form that individual tax payers use to file their taxes
a)
W-4
b)
1040
c)
W-2
d)
I-9
14.
This is a required payment by a taxpayer, mandated by the government.
a)
Tax
b)
Tax Return
c)
Tax Bracket
d)
Income
15.
The government agency collects income taxes and enforce the tax laws.
a)
FBI
b)
IBS
c)
CIA
d)
IRS
16.
A form filed with a tax authority that reports income, expenses, and other pertinent tax information.
a)
Tax Bracket
b)
Tax Return
c)
Filing Status
d)
Exemption
17.
This is your tax-filing group based on marital status as of the last day of the tax year
a)
Tax Bracket
b)
Tax Return
c)
Filing Status
d)
Allowance
18.
It is an amount you can subtract from your income for each person that is dependent on your income in your household.
a)
Exemption
b)
Tax Credit
c)
Tax Allowance
d)
Tax Bracket
19.
It is the amount of money a taxpayer can subtract from the taxes they owe, which helps reduce the amount of taxes owed
a)
Allowance
b)
Tax Credit
c)
Exemption
d)
Tax Return
20.
Refers to a range of incomes subject to a certain income tax rate.
a)
Tax Range
b)
Tax Bracket
c)
Tax Return
d)
Tax Credit
100 %
