Taxable Income (Business math)
Quiz
•
Business
•
9th - 12th Grade
•
Hard
Arianna Reedy
Used 12+ times
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The ____ Amendment to the US Constitution established the income tax.
14th
15th
16th
17th
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which item is NOT considered gross income?
Commissions
Tips
Salaries
Birthday gifts
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
By law, employers must send all employees their W-2 by the end of January 31st.
True
False
4.
FILL IN THE BLANK QUESTION
1 min • 1 pt
_____ _____ _____ is gross income minus selected government-approved deductions.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
IRA stands for...
Individual Retainer Account
Individual Retirement Account
Internal Revenue Associates
Internal Retirement Arrangement
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Deduction is an adjustment to income that comes _____ the AGI is determined.
before
after
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Certain expenses qualify as a deduction and reduce the amount of taxable income is called...
Adjusted Gross Income
Subtracted
Internal Deduction
Itemized Deduction
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