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Who pays taxes?
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JA Finance Park Test

QuestionAnswer
Your abilities include... things you do well
Who pays taxes? people who have jobs, people who purchase items, people who own property
What are 3 main types of taxes? income, property, sales
What is Social Security? a federal insurance program that provides benefits to retired people, disabled people, and family members of deceased workers
What is the purpose of taxes? improve roads, support the government, pay retirement benefits
Who pays social security? employees, self- employed people, and employers
Is social security a tax? yes
Is there a federal tax? yes
is medicare a tax? yes
What is the total amount of earnings made over a year after all deductions? net annual income
When it comes to personal savings, what does PYF stand for? pay yourself first
Protection against risk is the primary reason people purchase this type of insurance all kinds, auto, health, life, home
What is an example of a financial institution? a bank
How do lenders use a credit agency? to see an applicant's credit score, to see an applicant's credit history, to see if an applicant has any outstanding debt
Is a credit card another name for a debit card? no
When you use a debit card you... buy now, pay now
When you use a credit card, you... buy now, pay later
What do financial institutions charge borrowers when they lend money? interest
What are the 3 variables that affect saving money? amount, time, interest
What is the total amount of earnings made over a year before deductions? gross annual income
In what area of a typical family budget do people spend the most of their money? housing
Created by: sdupuy
 

 



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