Multiple Choice Quiz Chapter 4

Multiple Choice Quiz Chapter 4 - MultipleChoiceQuiz...

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Multiple Choice Quiz (See related pages) Results Reporter Out of 10 questions, you answered 10 correctly with a final grade of 100% 10 correct (100%) 0 incorrect (0%) 0 unanswered (0%) Your Results: The correct answer for each question is indicated by a  . CORRECT You earn a salary of $5500 a month and your employer withholds $2500 a month in income and social security taxes on this salary. This is an example of: A) Taxes on purchases. B) Taxes on property. C) Taxes on wealth. D) Taxes on earnings. E) None of the above. Feedback: Taxes in earnings are taxes on wages and salaries and other forms of income. CORRECT You own 1000 share of Abbot Laboratories and they paid you a dividend of $.94 per share last year. This money is part of: A) Earned income. B) Investment income. C) Passive income. D) Other income. E) None of the above. Feedback: You are correct. CORRECT You are single and earn a salary of $40,000 for the year. You have earned $1000 in interest income on some corporate bonds that you own. You have earned $1500 in 
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dividends for the year. Finally you earned a bonus this year of $5000. In addition, during the year you make a contribution to IRA of $2000. What is your adjustable 
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Multiple Choice Quiz Chapter 4 - MultipleChoiceQuiz...

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