Taxation And Government
This quiz is done to check students' progress in learning the active vocabulary and general idea in the field of taxation and functions of the US government.
- 1.
A tax levied on the total income of the individual (with some deductions permitted)
- A.
Personal income tax
- B.
Social insurance tax
- C.
Corporate income tax
- D.
Excise tax
- E.
Estate tax
Correct Answer
A. Personal income tax -
- 2.
The tax levied on the income of companies (often net income)
- A.
Personal income tax
- B.
Social insurance tax
- C.
Corporate income tax
- D.
Excise tax
- E.
Estate tax
Correct Answer
C. Corporate income tax -
- 3.
A tax paid by the customer on the manufacture use, and consumption of certain goods
- A.
Personal income tax
- B.
Social insurance tax
- C.
Corporate income tax
- D.
Excise tax
- E.
Estate tax
Correct Answer
D. Excise tax -
- 4.
A United States payroll (or employment) tax imposed by the federal government on both employees and employers to fund Social Security and Medicare—federal programs that provide benefits for retirees, the disabled, and children of deceased workers
- A.
Social insurance tax
- B.
Corporate tax
- C.
Excise tax
- D.
Estate tax
- E.
Sales tax
Correct Answer
A. Social insurance tax -
- 5.
Taxes levied on the personal representatives of the deceased
- A.
Excise tax
- B.
Estate tax
- C.
Inheritance tax
- D.
Property tax
- E.
Customs duties
Correct Answer
B. Estate tax -
- 6.
A tax imposed on the privilege of receiving property by inheritance or legal succession and assessed on the value of the property received. Also called death tax.
- A.
Excise tax
- B.
Estate tax
- C.
Inheritance tax
- D.
Sales tax
- E.
Property
Correct Answer
C. Inheritance tax -
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Current Version
-
Aug 17, 2015Quiz Edited by
ProProfs Editorial Team -
Aug 17, 2015Quiz Created by
Chrissy
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