Taxable Income (Business math)

Taxable Income (Business math)

9th - 12th Grade

14 Qs

quiz-placeholder

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Taxable Income (Business math)

Taxable Income (Business math)

Assessment

Quiz

Business

9th - 12th Grade

Hard

Created by

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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