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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
December 1
B
January 1
C
April 15
D
June 15
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
Keep it all yourself
B
Stay out of debt
C
Save
D
Give
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 your parents think you should do
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
once a year
B
long term
C
it is unusual for a donor to have a favorite charity
D
short term and then move on to other charities
7) Sales tax and excise tax are both taxes on
A
wealth
B
income
C
consumption
D
property
8) Which of the following are characteristics of an effective personal goal
A
it should be easy to accomplish
B
it should be vague
C
it should be measurable and specific
D
it should be determined by your friends or parents
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
W5
D
W4
10) Which of the following statements if false
A
knowing what you value will help you select a charitable organization to serve
B
giving to others should always be in the form of money
C
despite what our culture says, you are unique
D
before you can truly help others, you have to know what is really important to you
11) The tax that pays for benefits that workers and families receive for either Social Security or Medicare is
A
sales tax
B
state income tax
C
Federal Insurance Contribution Act (FICA)
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
tax collection and tax law enforcement
D
writing tax laws
*select an answer for all questions
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