What is the primary purpose of taxes imposed by the government?
Chapter 6 Vocabulary

Quiz
•
Mathematics
•
12th Grade
•
Easy
Mr. Lane
Used 6+ times
FREE Resource
20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
To increase the wealth of citizens
To fund public services
To discourage spending
To promote private businesses
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which form is used by individuals to file federal income taxes?
W-2 Form
1040 Form
1099 Form
W-4 Form
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What does the W-2 Form provide information about?
Total earnings and tax withholdings for the year
Income summary from sources other than wages
How much federal income tax to withhold
A fixed amount that reduces taxable income
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the term for the total income before taxes and other deductions?
Net Income
Gross Income
Adjusted Gross Income
Taxable Income
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which agency is responsible for collecting federal taxes in the United States?
Ohio Department of Taxation
Internal Revenue Service
Federal Reserve
Department of Treasury
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is a tax bracket?
A form used to report income
A range of incomes taxed at a specific rate
A fixed amount that reduces taxable income
A person who relies on someone else for financial support
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is the purpose of the W-4 Form?
To report total earnings and tax withholdings
To determine how much federal income tax to withhold from a paycheck
To summarize income from sources other than wages
To file federal income taxes
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