1 H&R Block Quiz Questions and
Answers 100% Pass
Why is the Payroll Calculator helpful in determining the effect of a 401K contribution
on net pay? - ✔✔401(k) contributions reduce the federal tax owed.
What minimum balance must be maintained in the emergency fund in order to earn the
trophy? - ✔✔$500
How can a participant earn the Perfect Pay trophy? - ✔✔Pay all of their bills in full and
on time.
What happens if a participant overpays a vendor and needs the money to pay a
different bill? - ✔✔The money will be refunded overnight if the participant requests a
refund from the vendor.
"Life expenditures" in the simulation, such as groceries, eat out meals, and
entertainment is reflected in monthly credit card charges. Approximately how much
will these total each month in the simulation? - ✔✔$500 to $750
Debbie has utilized 95% of her available credit on her credit card. What will be her daily
penalty at this level? - ✔✔25 points
Katelyn Whitman, All Rights Reserved © 2025 1
Answers 100% Pass
Why is the Payroll Calculator helpful in determining the effect of a 401K contribution
on net pay? - ✔✔401(k) contributions reduce the federal tax owed.
What minimum balance must be maintained in the emergency fund in order to earn the
trophy? - ✔✔$500
How can a participant earn the Perfect Pay trophy? - ✔✔Pay all of their bills in full and
on time.
What happens if a participant overpays a vendor and needs the money to pay a
different bill? - ✔✔The money will be refunded overnight if the participant requests a
refund from the vendor.
"Life expenditures" in the simulation, such as groceries, eat out meals, and
entertainment is reflected in monthly credit card charges. Approximately how much
will these total each month in the simulation? - ✔✔$500 to $750
Debbie has utilized 95% of her available credit on her credit card. What will be her daily
penalty at this level? - ✔✔25 points
Katelyn Whitman, All Rights Reserved © 2025 1
