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Tax Test
Test Description: Tax test tax test
Instructions: Answer all questions to get your test result.
1) Who prepares the federal budget each year to present to Congress
A
A council of governors
B
The Senate
C
Congressional Budget Office
D
The President
2) Which describes an excise tax
A
A gift tax
B
An estate tax
C
A payroll tax
D
A luxury tax
3) What limit does the Constitution place on the amount of money the federal government may borrow each year.
A
There is no limit
B
$1 Trillion
C
The government is not allowed to borrow
D
$500 Billion
4) Which office is responsible for preparing a yearly report showing income and expenses?
A
Office of Policy Development
B
Office of Trade
C
Office of Management and Budget
D
Office of Income Security
5) Which of the following agencies does the President consult on military and foreign policy issues?
A
Office of Administration
B
Office of Management
C
National Security Council
D
Council of Economic Advisers
6) What is the main role of the Executive Office of the President?
A
To hand out federal aid
B
To advise the President
C
To pass new legislation
D
To execute the national security policy
7) How do government corporations differ from private corporations?
A
They do not have a board of directors
B
Congress decides their purpose
C
They have no business purpose
D
They do not have income
8) Which are taxes levied on goods brought into the United States
A
Gift taxes
B
Excise taxes
C
Regressive taxes
D
Customs duties
9) Who decides how much the federal government can spend each year?
A
Independent agencies
B
The president
C
The internal revenue service
D
Congress
10) Who creates Independent agencies?
A
other federal agencies
B
Congress
C
The President
D
The White house Office
*select an answer for all questions
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