32
QuizMultiple Choice

Business and Government — Test

Question 32 • CMS 2026-2027 Economics and Personal Finance INITIAL CREDIT

On which of these are individuals required to pay income taxes in the United States? Choose three correct answers.

Answer
A
wages
B
store purchases
C
tips
D
gasoline
E
investment earnings

Explanation

Individuals generally owe income tax on money they earn. Wages and tips are forms of compensation for work, and investment earnings such as interest or dividends can also be taxable. Store purchases and gasoline are generally subject to sales or excise taxes, not income taxes.

AI-written and checked against the verified answer.

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