7-3 Income Deductions Vocab

7-3 Income Deductions Vocab

12th Grade

25 Qs

quiz-placeholder

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7-3 Income Deductions Vocab

7-3 Income Deductions Vocab

Assessment

Quiz

Mathematics

12th Grade

Practice Problem

Medium

Created by

Jennifer Taylor

Used 2+ times

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term describes the total amount of money earned in a pay period?

Gross Pay

Net Pay

Deductions

Social Security Tax

Pension

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term describes money taken out of Gross Pay to cover specific employee costs?

Gross Pay

Net Pay

Deductions

Social Security Tax

Pension

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which term is an alternate name for Take-Home Pay?

Gross Pay

Net Pay

Deductions

Social Security Tax

Pension

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

FICA is a term that combines which two deductions?

Disability Insurance and Medicare

Medicare and

Social Security

Federal Income Tax and

State Income Tax

Social Security and Retirement Contributions

Disability Insurance and Health Insurance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which deduction is used by the US government to pay for military, food stamps, national parks, etc?

Medical Insurance

Medicare Tax

State Income Tax

Social Security Tax

Federal Income Tax

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which deduction is used by the California government to pay for schools, parks, roads, bridges, etc?

Medical Insurance

Medicare Tax

State Income Tax

Social Security Tax

Federal Income Tax

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which deduction is used to provide basic living expenses for retirees 65 and older?

Medical Insurance

Medicare Tax

State Income Tax

Social Security Tax

Federal Income Tax

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