ENTREPRENEURSHIP 25 26 everfi quiz 1
Quiz by Kel Jackson
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- Q1
Which of the following is an example of a tax you must pay?
Social security
Rental payment
Bounced check
Late fee
30s - Q2
Which of the following is an example of a tax?
Car payment
Credit Card payment
Rent payment
Income tax payment
30s - Q3
What are taxes?
Taxes are optional payments you make to state and local governments.
Taxes are refunds you receive for overpayment.
Taxes are sources of income.
Taxes are mandatory payments you make to state and local governments.
30s - Q4
When is a budget considered to be balanced?
When the amount you spend is greater than the amount you earn.
When the amount you save is less than the amount you spend.
When the amount you spend equals or is less than you earn.
When the amount you earn is equal or less than to the amount you spend.
30s - Q5
Which of the following is a variable expense?
Going out money
Rental payments
Health insurance
Health insurance
30s - Q6
Which of the following is NOT a fixed expense?
Student loan payment for college
Rent for your apartment
Your car payment
Door Dash
30s - Q7
Which of the following is a fixed expense?
Hair appointment for a wedding
Amount spent for lunch
An apartment rent payment
tickets to Six Flags
30s - Q8
What is income?
Income is payments made to T-Mobile, Mint, or Verizon
Income is payments you make to the government to pay for the military.
Income is money you receive after paying taxes.
Income is money you earn, usually from working at a job.
30s - Q9
Typically, how do people earn income?
Most people earn income by saving a portion of their paycheck each month.
Most people earn income by spending more than they earn each month.
Most people earn income by working at a job.
Most people earn income by paying taxes.
30s - Q10
Which of the following is TRUE about income?
Income is money you earn, usually from working at a job.
Income is payment you make to the federal government.
Income is money you receive after paying taxes.
Income is payments you make to the government to pay for roads, bridges, and schools.
30s - Q11
Which of the following would be an example of a NEED during winter in Wisconsin?
A winter coat
Skittles...the purple ones
Skullcandy headphones
Nike Jordan5's
30s - Q12
Which of the following would be considered a want, not a need in 2025?
Clean air and water
A working phone
Transportation to work
A Starbucks gift card
30s - Q13
What are federal taxes?
Federal taxes are payments you make to the state government where you live.
Federal taxes are money you earn from working at a state job.
Federal taxes are money you earn from the US federal government.
Federal taxes are payments you make to the US federal government.
30s - Q14
Which of the following is paid for with federal taxes
School Sports
State contractors
The military
University of Texas instructors
30s - Q15
What is the purpose of Medicare?
To care for medical personnel injured while at work
To pay the medical bills of students
To pay doctors and nurses so they can help kids in poor countries
To assist elderly people with their medical costs so that their families don't have to pay them
30s