BUSINESS MATH TEST 10 & 11 EXAM
QUESTIONS WITH CORRECT ANSWERS
tip - ANSWER-type of wage payment that is money given to show appreciation for a
service done
gross pay - ANSWER-pay before deductions
net pay - ANSWER-pay after deductions
Social Security percent
maximum taxable income - ANSWER-two factors that determine the amount of FICA
withheld from your paycheck
inflation - ANSWER-increase in the money supply
W-4 form - ANSWER-what the Employee's Withholding Allowance Certificate is
commonly called
dependents - ANSWER-people that you support financially
W-2 form - ANSWER-what the Wage and Tax Statement is called
taxable income - ANSWER-one main purpose of an income tax return is to determine
your ___
tax audit - ANSWER-a review of your income tax return with an IRS employee
assessed value - ANSWER-a percentage of the market value
balance - ANSWER-the amount of money you have in an account; add the deposit total
to the previous balance
check - ANSWER-an order for the bank to pay some of your money to whom it is written
deposit slip - ANSWER-a form used by the deposited to add money to an account
dividend - ANSWER-portion of the profit
graduated - ANSWER-a corporation income tax is this; less tax is paid on the first
earnings and more tax is paid on the greater earnings
market value - ANSWER-the true worth of the property
QUESTIONS WITH CORRECT ANSWERS
tip - ANSWER-type of wage payment that is money given to show appreciation for a
service done
gross pay - ANSWER-pay before deductions
net pay - ANSWER-pay after deductions
Social Security percent
maximum taxable income - ANSWER-two factors that determine the amount of FICA
withheld from your paycheck
inflation - ANSWER-increase in the money supply
W-4 form - ANSWER-what the Employee's Withholding Allowance Certificate is
commonly called
dependents - ANSWER-people that you support financially
W-2 form - ANSWER-what the Wage and Tax Statement is called
taxable income - ANSWER-one main purpose of an income tax return is to determine
your ___
tax audit - ANSWER-a review of your income tax return with an IRS employee
assessed value - ANSWER-a percentage of the market value
balance - ANSWER-the amount of money you have in an account; add the deposit total
to the previous balance
check - ANSWER-an order for the bank to pay some of your money to whom it is written
deposit slip - ANSWER-a form used by the deposited to add money to an account
dividend - ANSWER-portion of the profit
graduated - ANSWER-a corporation income tax is this; less tax is paid on the first
earnings and more tax is paid on the greater earnings
market value - ANSWER-the true worth of the property
