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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
June 15
B
April 15
C
January 1
D
December 1
2) When it comes to mentoring, you should not
A
find and keep a single mentor
B
continue the mentoring cycle by one day becoming a mentor yourself
C
follow through and act on what you've learned
D
choose wisely
3) The Fifth Foundation if Build Wealth and
A
Give
B
Stay out of debt
C
Keep it all yourself
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 you are naturally good at
C
what you are passionate about
D
what your parents think you should do
5) During your first interview within a company, you should not
A
bring extra copies of your resume
B
ask about salary
C
show interest and be enthusiastic
D
be personable and try to connect with the interviewer
6) Smart donors support their favorite charities
A
short term and then move on to other charities
B
long term
C
once a year
D
it is unusual for a donor to have a favorite charity
7) Sales tax and excise tax are both taxes on
A
property
B
income
C
consumption
D
wealth
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 vague
C
it should be easy to accomplish
D
it should be measurable and specific
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
W5
B
W10
C
W2
D
W4
10) Which of the following statements if false
A
giving to others should always be in the form of money
B
before you can truly help others, you have to know what is really important to you
C
despite what our culture says, you are unique
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
excise tax
B
Federal Insurance Contribution Act (FICA)
C
sales tax
D
state income tax
12) The Internal Revenue (IRS) is the federal government agency responsible for
A
tax collection and tax law enforcement
B
filling out your tax forms
C
keeping the unemployment rate low
D
writing tax laws
*select an answer for all questions
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