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5.10A- Financial Literacy (Taxes) Flashcards | StudBud
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5.10A- Financial Literacy (Taxes)
5.10A- Financial Literacy (Taxes)
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Answers
1
Solve
D
C
B
A
2
Fernando pays a tax every year because he owns a Minecraft home in Cancun. Which term best describes this tax?
Sales Tax
Payroll Tax
Property Tax
Income Tax
3
Taxes people that own a home, land, or property pay.
Payroll Tax
Income Tax
Sales Tax
Property Tax
4
The term deduction means to take away money from a paycheck. (Subtract)
True
False
5
The word "Term" is just a synonym for word.
True
False
6
Tax paid when you work or have an income.
Sales Tax
Payroll Tax
Income Tax
Property Tax
7
The amount of money earned before taxes
Payroll Tax
Income Tax
Net Income
Gross Income
8
Taxes that are paid on retail items bought at a store based on a set percentage cost.
Sales Tax
Income Tax
Property Tax
Payroll Tax
9
A tax on retail products based on a set percentage of retail cost. Which term best fits this definition?
Property Tax
Payroll Tax
Income Tax
Sales Tax
10
The amount of money earned after taxes
Income Tax
Payroll Tax
Gross Income
Net Income
11
What are taxes?
Gross Income
Money I get paid
Money people pay to support government services
Net Income
12
Taxes an employer withholds / deducts out of an employees' paycheck. The money goes to the state and federal government.
Payroll Taxes
Gross Income
Sales Tax
Income Tax
13
All of the following are examples of Payroll Taxes except?
Social Security
Net Income
Federal Income Tax
Medicare
14
Which is not an a tax?
Property Tax
Sales Tax
Income Tax
Gross Income
