Which of the following are two mandatory categories of government spending that are paid for by FICA taxes?
Taxes

Quiz
•
Social Studies
•
12th Grade
•
Medium
Gabriel Beverly
Used 8+ times
FREE Resource
26 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Military and Education
Health and Veterans’ Benefits
Housing and Transportation
Social Security and Medicare
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On a pay stub, the amount of money that is left after withholdings is known as…
Gross pay
Net pay
Annual earnings
Wages and tips
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement best describes discretionary government spending?
A fixed amount of money spent on the same categories every year
The money used to pay for Social Security and Medicare
A changing amount of money spent on different categories each year
Money that you determine how it is spent by the government when you submit your taxes
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You recently accepted a new job and your first day is next week. What form will you have to complete before you receive your first paycheck?
W-2
1040
1099
W-4
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
You were unable to file your taxes before the April deadline and your application for an extension was approved. What month was your deadline extended to?
May
October
December
January
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements most accurately describes why it’s important to correctly fill out a W-4 form?
It determines how much money is withheld from your paycheck and can result in under or overpayment of taxes if filled out incorrectly
It is a legally binding contract between you and your employer that determines how much they pay you
If you pay the exact right amount in taxes, you receive a tax credit in the following year
If you underpay your taxes, you’ll be responsible for additional penalties beyond your normal tax obligation
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
All of the following people can be claimed as a dependent for tax purposes EXCEPT…
A 23 year old college student whose parents pay all of their expenses
A 17 year old high school student with a part-time job whose parents pay for all of their expenses
A 20 year old college student with a paid internship who pays for all of their own expenses
A 25 year old cousin with no job who has lived in your parent/guardian’s house for the last year
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