PF Unit 3 Test Review

Front

Who said, "in this world, nothing can be said to be certain, except death and taxes"?

Back

Benjamin Franklin

Front

This tax is on purchases of goods and services that we purchase. Different rates apply.

Back

Sales Tax

Front

This is a tax on specific items like gasoline that is already included in the price when purchasing.

Back

Excise Tax

Front

The more you make, the more you pay in income taxes is this type of tax.

Back

Progressive Tax

Front

When you get a job, you will fill out a ____ which allows you to identify your withholdings.

Back

W-4

Front

When you make money from the sale of an investment, you will likely have to pay ___ Tax.

Back

Capital Gains

Front

Which of the following is not considered to be an acceptable Itemized Deduction? Interest on a mortgage, medical and/or dental expenses, Food expenses for children, Interest on student loans

Back

Food expenses for children

Front

Failure to take ordinary or reasonable care to prevent an accident is considered to be _____

Back

Negligence

Front

This is a small amount of money you often pay when you go to the doctor. This allows you to be seen.

Back

Copay

Front

This is the total amount of money that you would have to pay "out of pocket" for medical expenses.

Back

Deductible