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- 1. Multiple Choice
A deduction is
gross income
money added to your income
net income
money taken out of your income
- 2. Multiple Choice
Gross income is:
the total amount of money you earn
the amount of money you receive after decuctions are subtracted
the total amount of money you spend
sales taxes on items you buy
- 3. Multiple Choice
Net income is:
the total amount of money you earn
the amount of money you receive after deductions are subtracted from your gross income
the amount of money that is taken away in the form of taxes
the hourly rate of pay
- 4. Multiple Choice
Marco has the following deductions listed.
Federal Income tax: $44
Social Security tax: $23
Medicare tax: $5
Health Insurance: $24
What is the total amount of his deductions?
$39
$67
$91
$96
- 5. Multiple Choice
David's gross income: $127.25
David's deductions: $25.20
David's net pay: ?
$102.05
$102.45
$112.05
$152.45
- 6. Multiple Choice
Net Income is?
After Tax
Before Tax
Sales Tax
Property Tax
- 7. Multiple Choice
Yvonne's gross income: ?
Yvonne's payroll deductions: $251.18
Yvonne's net income:$451.82
HINT: Work backwards
$703
$200.64
$954.18
$25,812.00
- 8. Multiple Choice
Angel wants to buy a football jersey that cost $84.
He gets a job that pays him $15 an hour. He worked seven hours and was paid. After calculating his gross pay, does Angel have enough money to pay for the jersey if his total deductions was $12?
Yes
No
- 9. Multiple Choice
Adam earns $13 for each lawn that he mows. He mows 37 lawns per month. Which statement about his monthly income is true?
His net income is more than $481.
His gross income is less than $481.
His net income is exactly $481.
His gross income is exactly $481.
- 10. Multiple Choice
Which of these statements about gross income and net income is true?
Gross income is a tax on all income that a worker earns, and net income is a tax paid by an employer based on a worker’s wages.
Gross income is a tax paid by an employer based on a worker’s wages. and net income is a tax on all income that a person earns.
Gross income is the amount an employee is paid after deductions and taxes, and net income is the total amount an employee earns before deductions are applied.
Gross income is the amount an employee earns before deductions are applied, and net income is the amount an employee is paid after deductions and taxes.
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