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MM 11-12 MC: 34-45
Test Description: Multiple Choice Questions 34-35 on Ch 11-12 Test
Instructions: Answer all questions to get your test result.
1) The day that income tax filings are due in the US is
A
January 1
B
June 15
C
April 15
D
December 1
2) When it comes to mentoring, you should not
A
find and keep a single mentor
B
follow through and act on what you've learned
C
continue the mentoring cycle by one day becoming a mentor yourself
D
choose wisely
3) The Fifth Foundation if Build Wealth and
A
Give
B
Keep it all yourself
C
Stay out of debt
D
Save
4) Which of the following should not be a major consideration when it comes to selecting your career
A
what your interests are
B
what your parents think you should do
C
what you are naturally good at
D
what you are passionate about
5) During your first interview within a company, you should not
A
show interest and be enthusiastic
B
bring extra copies of your resume
C
be personable and try to connect with the interviewer
D
ask about salary
6) Smart donors support their favorite charities
A
it is unusual for a donor to have a favorite charity
B
once a year
C
long term
D
short term and then move on to other charities
7) Sales tax and excise tax are both taxes on
A
property
B
wealth
C
income
D
consumption
8) Which of the following are characteristics of an effective personal goal
A
it should be determined by your friends or parents
B
it should be measurable and specific
C
it should be vague
D
it should be easy to accomplish
9) When a company hires you, you will fit out a __ form which is the basis for determining how much income tax should be withheld from your paycheck
A
W2
B
W10
C
W4
D
W5
10) Which of the following statements if false
A
despite what our culture says, you are unique
B
giving to others should always be in the form of money
C
before you can truly help others, you have to know what is really important to you
D
knowing what you value will help you select a charitable organization to serve
11) The tax that pays for benefits that workers and families receive for either Social Security or Medicare is
A
Federal Insurance Contribution Act (FICA)
B
state income tax
C
sales tax
D
excise tax
12) The Internal Revenue (IRS) is the federal government agency responsible for
A
keeping the unemployment rate low
B
filling out your tax forms
C
writing tax laws
D
tax collection and tax law enforcement
*select an answer for all questions
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