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Income Tax Planning Quiz 4 (20 MCQs)

Quiz Instructions

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1. What percentage of your income should you use towards savings?
2. A goal to save money for a new saxophone is .....
3. How long do you keep pay stubs?
4. A tax on gasoline is known as a(n)
5. This type of income is the result of earnings from dividends, interest, and rent.
6. By understanding tax laws, you can make sure you don't pay more than you have to
7. A ..... is a plan in which an individual balances available resources and expenses.
8. To encourage development of a national identity and promote a culture of national pride through tourism. This statement refer to
9. What is Net income?
10. Items of value, such as bank accounts, jewelry, and automobiles.
11. What can help you be prepared for unexpected costs, such as car repairs?
12. Which of these is the best example of an asset?
13. Which of the following is an example of a defined contribution benefit plan?
14. Which of the following is known as purchasing an item on a whim?
15. Choose the "Fixed Expense" .
16. What kind of expenses are costs that occur on a regular basis?
17. Which of the following is a need?
18. This is money you can get to pay for college, which has to be paid back.
19. Which of the following is an example of a defined benefit retirement plan?
20. A good first step in financial planning would be to
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