Banking: How to Manage Your Money Answers
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Property taxes are based on
A
where a property is located.B
who lives on a property.C
how much a property is worth.D
when a property was purchased.3
If a home is valued at $250,000 and the property tax rate is 2 percent, how much will the owners pay in property taxes?
A
$50B
$500C
$5,000D
$50,0004
Which are types of income tax that people pay? Check all that apply.
A
federalB
localC
progressiveD
stateE
salesF
flat5
In addition to federal income tax, many people also pay
A
corporate tax.B
state income tax.C
local medicare tax.D
local social security tax.6
Which describes a type of tax that funds city programs?
A
progressive taxB
federal income taxC
local income taxD
medicare tax7
The diagram shows revenue from federal income taxes.
A
The most revenue comes from individual and payroll taxes.B
The least revenue comes from individual and corporate taxes.C
The most revenue comes from payroll and corporate taxes.D
The least revenue comes from payroll and other taxes.8
If a new shirt costs $34.99 and the sales tax is $2.10, the sales tax rate is
A
2 percent.B
4 percent.C
6 percent.D
8 percent.9
Social security and medicare are
A
progressive taxes.B
payroll taxes.C
local taxes.D
corporate taxes.10
The chart shows a sample paycheck stub.
A
added to employee pay.B
withheld from employee pay.C
refunded in employee pay.D
filed through employee pay.Did you find these answers helpful?
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