Chp 10: Income & Taxes Review

Chp 10: Income & Taxes Review

12th Grade

16 Qs

quiz-placeholder

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Chp 10: Income & Taxes Review

Chp 10: Income & Taxes Review

Assessment

Quiz

Financial Education

12th Grade

Medium

Created by

Kelly Strich

Used 3+ times

FREE Resource

16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Each year, taxpayers submit a(n) ______ to the IRS with the goal of getting as close to zero as possible.

sales tax

fiscal year

tax return

standard deduction

earned income

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Due to the 2018 tax reforms, most tax filers can just take the _______ when filing their taxes.

sales tax

fiscal year

tax return

standard deduction

earned income

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The taxes you pay for snacks and other items at a gas station are an example of _______.

sales tax

fiscal year

tax return

standard deduction

earned income

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

___________ is money you make from working at your job.

sales tax

fiscal year

tax return

standard deduction

earned income

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The 12-month period used for reporting financial activity is known as a(n) __________.

sales tax

fiscal year

tax return

standard deduction

earned income

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An example of a(n) ___________ is the taxes you pay on the fuel you purchase for your car at a gas station.

inheritance tax

portfolio income

excise tax

audit

deficit spending

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a long-lost relative or friend were to leave you a lot of money, you might have to pay a(n) ____________.

inheritance tax

portfolio income

excise tax

audit

deficit spending

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