CHAPTER 1 QUIZ GRADED

CHAPTER 1 QUIZ GRADED - 1 phft24i1.136 Value A incometax...

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1. phft24i 1.1-36   Which of the following taxes is progressive?    Student  Response Value Correct Answer Feedback A. income tax 100%      B. sales tax 0%      C.  property tax 0%      D.  excise tax 0%      Score: 1/1  Comments:   2. phft24i 1.1-37   Which of the following taxes is proportional?    Student  Response Value Correct Answer Feedback A.  Federal  Insurance  Contributions  Act (FICA) 0%      B.  gift tax 0%      C.  sales tax 100%      D.  income tax 0%      Score: 1/1  Comments:   3. phft24i 1.1-39   Sarah contributes $25,000 to a church. Sarah's marginal tax rate is 35%  25%. After considering her tax savings, Sarah's contribution costs 
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  Student  Response Value Correct Answer Feedback A.  $18,750. 0%      B.  $6,250. 0%      C.  $8,750. 0%      D.  $16,250. 100%      Score: 1/1  Comments:   4. phft24i 1.1-41   Charlotte pays $16,000 in tax deductible property taxes. Charlotte's marg tax rate is 28% and average rate is 25%. Charlotte's tax savings from pay   Student  Response Value Correct Answer Feedback A.  $4,000. 0%      B.  $11,200. 0%      C.  $4,480. 0%      D.  $4,800. 100%      Score: 1/1  Comments:   5. phft24i 1.1-42   Anne, who is single, has taxable income for the current year of $38,000 w $43,000 resulting in a total tax of $5,822. Anne's average tax rate and eff respectively,    Student  Response Value Correct Answer Feedback A.  11.58% and  13.65%. 0%     
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  Student  Response Value Correct Answer Feedback B.  13.54% and  15.32%. 0%      C.  15.32% and  13.54%. 100%      D.  15.3% and  13.65%. 0%      Score: 1/1  Comments:   6. phft24i 1.1-45   Paul makes the following property transfers in the current year: - $22,000 cash to his wife - $34,000 cash to a qualified charity - $220,000 house to his son - $3,000 computer to an unrelated friend The total of Paul's taxable gifts, assuming he does not elect gift splitting w
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CHAPTER 1 QUIZ GRADED - 1 phft24i1.136 Value A incometax...

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