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What are taxes?

Quiz by Cassidi Freeman

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10 questions
Show answers
  • Q1
    What are taxes?
    Taxes are optional fees paid to the government.
    Taxes are mandatory fees that both individuals and companies have to pay to the government.
    Taxes are only paid by companies, not individuals.
    Taxes are used for funding private projects.
    30s
  • Q2
    Who pays taxes?
    Only companies pay taxes.
    Both individuals and companies have to pay taxes on their income, profit, sales, property holdings, etc. above a certain threshold.
    Taxes are not mandatory.
    Only individuals pay taxes.
    30s
  • Q3
    Who receives the tax money?
    Tax money is kept by individuals and companies.
    Depending on the type of tax, the tax money is collected by the federal, state or local government.
    Tax money is distributed to random citizens.
    Tax money is used for personal gain.
    30s
  • Q4
    When is tax paid?
    Most types of taxes are due annually, but not all.
    Taxes are paid by the government.
    Taxes are only paid once in a lifetime.
    Taxes are paid monthly.
    30s
  • Q5
    What are taxes?
    gifts to the government
    voluntary contributions to the government
    mandatory fees that individuals and companies have to pay to the government
    optional fees paid to the government
    30s
  • Q6
    What are some main types of taxes?
    Gift Tax, Inheritance Tax, Trade Tax, and Import Tax
    Income Tax, Capital Gains Tax, Property Tax, and Sales Tax
    Luxury Tax, Entertainment Tax, Carbon Tax, and Dividend Tax
    Vehicle Tax, Pet Tax, Air Travel Tax, and Hotel Tax
    30s
  • Q7
    Who pays taxes?
    Only individuals
    Both individuals and companies
    Only companies
    Only the government
    30s
  • Q8
    Who receives the tax money?
    international organizations
    private entities
    federal, state or local government
    charitable organizations
    30s
  • Q9
    What is tax money used for?
    fund different things depending on the level of government
    finance private businesses
    invest in the stock market
    purchase luxury items for government officials
    30s
  • Q10
    When is tax paid?
    Most types of taxes are due annually
    Most types of taxes are due monthly
    Most types of taxes are due biannually
    Most types of taxes are due quarterly
    30s

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