
Chapter 16 Assessment
Authored by Veronica Crawford
Business
9th - 12th Grade
Used 13+ times

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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The difference between your personal assets and your personal liabilities is your:
cash inflow
net worth
cash outflow
net income
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Take-home pay is the amount you have left in your paycheck
after you pay your bills for the week
after taxes and deductions
before taxes and deductions
before you pay your bills for the week
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a fixed expense?
food
utilities
clothing
rent
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
This tax is based upon the value of land and buildings
income tax
sales tax
gift tax
real estate property tax
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A good first step in financial planning would be to
create a balance sheet and cash flow statement
hire a professional financial planner
pay off all of your debts
develop long-term financial goals
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Items of value, such as bank accounts, jewelry, and automobiles are
personal assets
cash outflows
annuity
net income
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The agency responsible for collecting federal income tax is:
State's Attorney
OSHA
Internal Revenue Service
Department of Social Services
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