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Erin and her mother are putting together an Income and Expense Statement for Erin to use as she applies for a college scholarship. Which income source does she NOT need to include for this statement?
Taxes she paid based on her income last year.
The balance on his credit card
Austin neglected to deduct the amount required to pay income and payroll taxes.
A spending plan includes items NOT usually included when creating a budget.
Maggie, because her net worth is higher than Samantha’s.
Payroll taxes fund the Social Security and Medicare programs.
Senior Citizens
Spending plans are always under revision so they are never complete.
He worked 22 hours and is being paid $8.00 /hour. He calculated that his paycheck should be $176. His paycheck amount is almost 1/3 less than he expected. What is the most likely reason that Austin’s pay is less than he expected it to be?
Taxes she paid based on her income last year.
The balance on his credit card
Austin neglected to deduct the amount required to pay income and payroll taxes.
A spending plan includes items NOT usually included when creating a budget.
Maggie, because her net worth is higher than Samantha’s.
Payroll taxes fund the Social Security and Medicare programs.
Senior Citizens
Spending plans are always under revision so they are never complete.
Diana and Aaron have decided to develop a spending plan to help them gain control over their finances. Which of the following statements is NOT TRUE about spending plans?
Taxes she paid based on her income last year.
The balance on his credit card
Austin neglected to deduct the amount required to pay income and payroll taxes.
A spending plan includes items NOT usually included when creating a budget.
Maggie, because her net worth is higher than Samantha’s.
Payroll taxes fund the Social Security and Medicare programs.
Senior Citizens
Spending plans are always under revision so they are never complete.
When is your spending plan complete?
Taxes she paid based on her income last year.
The balance on his credit card
Austin neglected to deduct the amount required to pay income and payroll taxes.
A spending plan includes items NOT usually included when creating a budget.
Maggie, because her net worth is higher than Samantha’s.
Payroll taxes fund the Social Security and Medicare programs.
Senior Citizens
Spending plans are always under revision so they are never complete.
Which statement is TRUE about Payroll Taxes?
Taxes she paid based on her income last year.
The balance on his credit card
Austin neglected to deduct the amount required to pay income and payroll taxes.
A spending plan includes items NOT usually included when creating a budget.
Maggie, because her net worth is higher than Samantha’s.
Payroll taxes fund the Social Security and Medicare programs.
Senior Citizens
Spending plans are always under revision so they are never complete.
Jonah is writing down his liabilities to complete his Statement of Financial Position. The item he should include would be:
Taxes she paid based on her income last year.
The balance on his credit card
Austin neglected to deduct the amount required to pay income and payroll taxes.
A spending plan includes items NOT usually included when creating a budget.
Maggie, because her net worth is higher than Samantha’s.
Payroll taxes fund the Social Security and Medicare programs.
Senior Citizens
Spending plans are always under revision so they are never complete.
Maggie earns $62,000 per year and has a net worth of $20,000. Samantha earns $96,000 and has a net worth of $15,000. Who is wealthier?
Taxes she paid based on her income last year.
The balance on his credit card
Austin neglected to deduct the amount required to pay income and payroll taxes.
A spending plan includes items NOT usually included when creating a budget.
Maggie, because her net worth is higher than Samantha’s.
Payroll taxes fund the Social Security and Medicare programs.
Senior Citizens
Spending plans are always under revision so they are never complete.
Who is Medicare designed to help?
Taxes she paid based on her income last year.
The balance on his credit card
Austin neglected to deduct the amount required to pay income and payroll taxes.
A spending plan includes items NOT usually included when creating a budget.
Maggie, because her net worth is higher than Samantha’s.
Payroll taxes fund the Social Security and Medicare programs.
Senior Citizens
Spending plans are always under revision so they are never complete.
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