Unit Test — Unit test Answers

Mikkel pays a 4 percent state income tax on his earnings. If he earns $1,867, how much state income tax can he expect to pay?

Dima called her friend to tell her that she saved 30% on her new skirt at a discount store. Her friend told her that she could have gotten a better deal at a different store that was advertising a sale of off all clothing. If the original price of Dima’s skirt was $54, how much more could she have saved at the store her friend suggested?

Which action is an example of a service provided by an organization receiving charitable donations?

What can be researched about a nonprofit organization through a regulatory agency?

Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities. OaklandLos AngelesBudget ItemCostCostHousing$565$1200Food$545$655Health Care$245$495Taxes$450$625Other Necessities$350$495Monthly Total How much money will they save monthly by the move to Oakland?

Read the quote from philanthropic businessperson Ewing Kauffman.We cannot finance everybody who wants to get into business, but we have the capability of guiding them to the point where they can get seed money.—From Philanthropy Roundtable

Gaia’s gross pay per month is $2,895. Her deductions are listed in the table.DeductionDollar AmountFederal Income Tax$324State Income Tax$96Social Security $126Medicare $39 What is Gaia’s net pay each month?

Which activity does the IRS allow nonprofit organizations to engage in?

An organization advertises tax deductions for people donating cars. Its radio commercial mentions the founder of the organization and various endangered wildlife.

Sara is 16 years old and would like to open a bank account. What will she need in addition to her parent or guardian? Select four answers.

Natasha has $1000 to open a checking account. She can maintain a monthly balance of $600. She also has a savings account at the same bank. Her employer offers direct deposit and she plans to use online bill paying. She writes about eight checks per month. She currently uses the ATM machines at several different banks. Natasha sometimes overdraws her account. Bank Account Terms and ConditionsNatasha wants an account with the lowest fees. Which checking account would be best for Natasha?

Which is an example of an income deduction?

Which action is an example of a service provided by an organization receiving charitable donations?

Which account has the lowest minimum balance requirement?Bank Account Terms and Conditions

How is a student loan different from a scholarship?

Which of these is the best reason for Nina to monitor her bank account statements online or on her cell phone app?

Kala’s family is shopping for a large screen TV. The TV they decided on has a retail price of $1,000 at four stores. The state sales tax is 5%. Each store is offering a different sales promotion, as listed in the table. StorePromotional OfferA$80 rebateB10% discount on priceCStore pays all sales taxD$40 rebate with store paying half of sales taxWhich store has the best deal?

What is the purpose of comparison shopping?

When companies spend millions of dollars developing logos and slogans, or use celebrity endorsements to encourage consumers to buy particular products, this is called

Karen has $800 to open a checking account. She wants an account with the lowest fees. She only writes about five checks per month and her employer has direct deposit. She does not plan on using the ATM or online banking. Bank Account Terms and ConditionsWhich checking account would be best for Karen?