Financial Literacy part 1

Question 1

Which type of tax is is used to pay city, state, and federal government like things for education and health care?

Accepted Answer

Income tax

Question 2

Which type of tax is paid by land owners and home owners

Accepted Answer

Property tax

Question 3

Money coming in

Accepted Answer

Income

Question 4

Net Income is the money you receive after paying taxes

Accepted Answer

True

Question 5

An action that changes the amount of money you have

Accepted Answer

Transaction

Question 6

Gross Income is the money you earn after paying taxes

Accepted Answer

False

Question 7

Which type of tax is is used to pay the city like firefighters and police?

Accepted Answer

Property tax

Question 8

Which type of tax is paid by the money people earn

Accepted Answer

Income tax

Question 9

Money going out

Accepted Answer

Expense

Question 10

Which type of tax is is used to pay the federal government for unemployment, Medicare and Social Security?

Accepted Answer

Payroll tax

Question 11

Which type of tax is paid by employees and employers

Accepted Answer

Payroll tax

Question 12

Money left over after an action happens

Accepted Answer

Balance

Questions 12