:Taxes Actual Exam Questions With Well Elaborated Answers.
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Course
TAX.
Institution
TAX.
Who primarily uses our tax money? - correct answer The federal government, the state government
2. Our tax money is spent on all of the following EXCEPT: - correct answer private school education
3. Which of the followi...
Who primarily uses our tax money? - correct answer The federal government, the
state government
2. Our tax money is spent on all of the following EXCEPT: - correct answer private
school education
3. Which of the following is NOT a category in the Federal government's spending? - correct answer
interest on loans issued
4. What types of taxes contribute to Federal tax revenue? - correct answer
Corporate income tax, estate tax, income tax, excise tax
5. The W-4 form lets... - correct answer your employer know how much to withhold
from your paycheck
6. Jess is 21, in college, & has a job that provides 65% of her support. Is she a dependent? - correct
answer no
7. What item would you DEFINITELY see on a paystub? - correct answer gross pay
8. The more allowances you claim on your W-4... - correct answer the more money
you will see in your paycheck
9. The more allowances you claim on your W-4... - correct answer the less money is
withheld from your paycheck
10. True or False: All wages, tips, and bonuses are taxable unless specifically excluded. - correct answer
true
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