Taxes Unit 2
Paycheck and Taxes
- 1.
Persons claimed that reduce the amount of tax withheld from your paycheck
- A.
Deductions
- B.
W-4
- C.
W-2
- D.
Allowances
Correct Answer
D. Allowances -
- 2.
Largest source of of government revenue is?
- A.
Property taxes
- B.
License fees
- C.
Income tax
- D.
Donations
Correct Answer
C. Income tax -
- 3.
Laws that give financial security to worker's and their families for injuries, illness, loss of income, or death resulting from work conditions?
- A.
Personal injury law
- B.
Workers compensation laws
- C.
Liability insurance
- D.
Unemployment laws
Correct Answer
B. Workers compensation laws -
- 4.
Taxes that decrease in proportion to income?
- A.
Progressive tax
- B.
Proportional tax
- C.
Excise tax
- D.
Property tax
Correct Answer
A. Progressive tax -
- 5.
Form used to determine allowances?
- A.
W-2
- B.
I-9
- C.
W-4
- D.
Personal exemption form
Correct Answer
C. W-4 -
- 6.
Date employers are required to mail your W-2
- A.
April 15
- B.
January 31
- C.
February 1st
- D.
January 1st
Correct Answer
B. January 31 -
- 7.
The minimum wage law
- A.
Wage and discrimination law
- B.
Fair Labor Standards Act
- C.
Weights and Measures Law
- D.
Minimum Wage and Benefits Law
Correct Answer
B. Fair Labor Standards Act -
- 8.
Pay before deductions are taken out?
- A.
Net pay.
- B.
Gross pay.
- C.
Overtime pay
- D.
Salary
Correct Answer
B. Gross pay. -
- 9.
A standard work week has __________ hours?
- A.
36
- B.
40
- C.
20
- D.
45
Correct Answer
B. 40 -
- 10.
This type of tax is consider a proportional tax.
- A.
Sales tax
- B.
Progressive tax
- C.
Property tax
- D.
Excise tax
Correct Answer
C. Property tax -
- 11.
Ronald Reagan is credited with signing the social security act.
- A.
True
- B.
False
Correct Answer
B. False -
- 12.
Every state is required to have a program in place to protect workers who lose their jobs through no fault of their own.
- A.
True
- B.
False
Correct Answer
A. True -
- 13.
The President is responsible for writing tax law.
- A.
True
- B.
False
Correct Answer
B. False -
- 14.
You can only claim a personal allowance if you are not claimed as a dependent
- A.
True
- B.
False
Correct Answer
A. True -
- 15.
The most common form of paying employees is through payroll cards
- A.
True
- B.
False
Correct Answer
B. False -
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Dec 26, 2016Quiz Edited by
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Mar 18, 2014Quiz Created by
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