Personal Finance 4.01: Question Preview (ID: 9242)


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Larry enclosed with his income tax returns a form showing all income he earned from his job during that tax year. Which form is this?
a) Employment contract b) Paycheck stubs c) W-2 form d) W-4 form
Maria received a form in the mail showing the interest she has earned on her bank accounts. Which form is this?
a) W-2 b) W-4 c) 1040 EZ d) 1099- INT
Tim had $52.37 of federal income taxes taken out of his paycheck. What type of tax is this?
a) property b) progressive c) regressive d) sales
The employment agency asked Nick to complete an Employment Eligibility Verification form to show that he was able to work in the United States. What type of form is this?
a) Form 1040 b) I-9 c) W-2 d) W- 4
Dennie and Marie submit their federal income taxes each year using the most common U.S. tax return. What type of form is this?
a) from 1040 b) I-9 c) W-2 d) W-4
Danny's new employer instructed him to come by the office and complete an Employee's Withholding Allowance Certificate. What type of form is this?
a) form 1040 b) I-9 c) W-2 d) W-4
Janet's accountant asked her to provide a copy of her Wage and Tax Statement as soon as she receives it from her employer. What type of form is this?
a) Form 1040 b) Form 1099 c) W-2 d) W-4
Sam was told that he will receive his pay by direct deposit. What benefit can Sam expect with this way of being paid?
a) Able to carry more cash b) Additional banking fees c) Greater security/less likelihood of loss d) 24-hour access to funds
Sabrina was told that she would receive her pay by payroll card. What benefit can Sabrina expect with this way of being paid?
a) Able to carry more cash b) Additional banking fees c) Receive a paycheck stub d) 24-hour access to funds
Jerry had $100 insurance and medical deductions withheld from his pay each month. After also deducting $125 in taxes, Jerry's take-home pay was $475. The $475 amount is Jerry's:
a) deductions. b) hourly wages. c) gross pay. d) net pay.
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