What is the tax levied by a government directly on income, especially an annual tax on personal income?
Quest for Success Unit 6 Vocabulary - Part 2

Quiz
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Business
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8th - 9th Grade
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Medium
Michelle Newsom
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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
sales tax
property tax
income tax
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The general increase in prices and fall in the purchasing value of money is ____________.
expense
social security
purchasing power
inflation
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
__________________ is the federal health insurance program for people who are 65 or older or certain younger people with disabilities.
Social Security
Medicare
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
______________ is the federal insurance program that provides benefits to retired people and those who are unemployed or disabled.
Medicare
Social Security
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a requirement, necessary duty, or obligation?
need
want
expense
inflation
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An individual's income after taking taxes and deductions into account is called ....
gross income
income tax
net income
fixed expense
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
__________ ___________ is gross wages minus withholdings for payroll taxes and other items such as insurance.
Cash flow
Social Security
Purchasing power
Net pay
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