JAFP Unit 1 Income Quiz
  • 1. deduction
A) amount subtracted from gross pay
B) total amount of income earned
C) Payments due to the government
  • 2. gross pay
A) Payments due to the government
B) Social insurance program that extends healthcare coverage to Americans over age 65
C) total amount of income earned
  • 3. How do you calculate gross annual income, given gross monthly income?
A) Multiply gross monthly income by 30
B) Divide Gross monthly income by 12
C) multiply gross monthly income by 12
  • 4. Income
A) money received on a regular basis for work or through investments
B) gross pay minus deductions
C) gross pay minus deductions
  • 5. Medicare
A) total amount of income earned
B) Social insurance program that extends healthcare coverage to Americans over age 65
C) money received on a regular basis for work or through investments
  • 6. net pay
A) total amount of income earned
B) Payments due to the government
C) gross pay minus deductions
  • 7. Social Security
A) social insurance program that provides benefits to people are retired or sick
B) Social insurance program that extends healthcare coverage to Americans over age 65
C) amount subtracted from gross pay
  • 8. taxes
A) payment due the government
B) social insurance program that provides benefits to people are retired or sick
C) Social insurance program that extends healthcare coverage to Americans over age 65
  • 9. Which formula is correct for gross pay?
A) Rate/hours
B) gross-deductions
C) (rate)(hours)
  • 10. Which formula is correct for net pay?
A) rate/hour
B) (rate)(hours)
C) gross-deductions
Students who took this test also took :

Created with That Quiz — where a math practice test is always one click away.