Chapter 10 Practice Exam Questions And Correct Detailed Answers.
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Course
TAX.
Institution
TAX.
Gross - correct answer _________________ income is the total amount of money you earn
Net - correct answer ________________ income is the amount of money you have left after taxes and other expenses are taken out of your p...
Gross - correct answer _________________ income is the total amount of money
you earn
Net - correct answer ________________ income is the amount of money you have
left after taxes and other expenses are taken out of your paycheck
Take-Home - correct answer The amount of money that you get to keep is called
your _____________ pay
Consumption - correct answer ________________ tax is money we have to pay on
things we buy
Sales - correct answer _______________ tax is what you pay on things you buy
Percentage - correct answer Sales tax is a __________ of the total sale price
Luxury - correct answer Excise tax is also called a ___________ tax
Price - correct answer Excise taxes are usually factored into the _____________ of
the item you are buying
County - correct answer Sales tax usually goes to the state, city, and
_____________
Federal - correct answer Two types of income tax: _____________ income tax and
state income tax
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