Tax True or False Challenge

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Test your tax knowledge: Yes or No

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Jaidyn Smith

Estados Unidos

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Tax True or False Challenge


Tax True or False ChallengeVersión en línea Test your tax knowledge: Yes or No por Jaidyn Smith 1 Capital Gains Tax - tax on profits from the sale of an asset held for one year. Yes No 2 Proportional Tax - percentage of income paid in tax is the same regardless of level of income. Yes No 3 Corporate Income Tax - tax on corporate profits. Yes No 4 Sales Tax - tax levied on a product at the time of sale, main source of state government revenue. Yes No 5 Investment Tax Credit - tax discount given to business for purchase of equipment. Yes No 6 Estate Tax - tax on the transfer of property when a person dies. Yes No 7 Graduated Income Tax - as income levels cross into higher brackets, only the income above that bracket's floor is subject to the higher rate, not one's entire income. Yes No 8 Crowding Out Effect - economic theory explaining an increase in interest rates due to rising government borrowing in the money market. Yes No 9 Appropriations - government funds earmarked for certain purposes. Yes No 10 Sin Tax - designed to raise revenue and discourage consumption of a socially undesirable product. Yes No 11 Progressive Tax - percentage of income paid in tax rises as level of income rises. Yes No 12 Gift Tax - tax on donations of money or wealth that is paid by the donor. Yes No 13 Benefit Principle of Taxation - belief that taxes should be paid according to the benefits received regardless of income. Yes No 14 Expenditures - government spending. Yes No 15 Ability-to-Pay Principle of Taxation - belief that taxes should be paid according to level of income regardless of benefits received. Yes No 16 Earned Income Credit - a lower tax bracket if an individual meets seven basic criteria including making less than $19,104/year. Yes No 17 Payroll/FICA - tax levied on employers and employees to support Social Security and Medicare. Yes No 18 Public Debt - borrowings by governments to finance expenditures not covered by current tax revenues. Yes No 19 Flat Tax - tax on individual income after a specified threshold has been reached. Yes No 20 Surcharge - additional tax added to other charges already in place. Yes No 21 Intergovernmental Revenue - funds one level of government receives from another level of government. Yes No 22 Deficit Spending - government spending in excess of taxes and other revenues. Yes No 23 Trust Fund - special account used to hold revenues designated for specific expenditures. Yes No 24 Capital Gains Tax - tax on profits from the sale of an asset held for one year. Yes No 25 Investment Tax Credit - tax discount given to business for purchase of equipment. Yes No 26 Revenue - government income. Yes No 27 Tariff/Custom's Duty - tax placed on imported goods. Yes No 28 Value-Added Tax - tax on the value added at every stage of the production process. Yes No 29 Property Tax - tax levied on the real (value) property of the owner. Yes No 30 Personal Income Tax - tax levied on the wages, salaries and other income of individuals. Yes No 31 Tax Loopholes - exception or oversight in the tax law allowing taxpayer to avoid taxes. Yes No 32 Excise Tax - general revenue tax levied on the manufacture or sale of selected items. Yes No 33 Poll Tax - a capital tax levied equally on every adult in the community. Yes No 34 Regressive Tax - percentage of income paid in tax drops as level of income rises. Yes No 35 Entitlement - guarantee of access to benefits because of rights, or by agreement through law. Yes No

Tax True or False Challenge

Sí o No

Sobre esta actividad

Creada por

Descarga la versión para jugar en papel

Top juegos

Sí o No

Grammys a mejor canción/grabación

Sí o No

Preguntas sobre futbol para niños

Sí o No

OPEN UP 5 UNIT 3: THERE IS/ARE, THERE WAS, THERE WERE

Sí o No

¿Está creado con Inteligencia Artificial?

Sí o No

¿Es verdad?

Tax True or False ChallengeVersión en línea

por Jaidyn Smith

Capital Gains Tax - tax on profits from the sale of an asset held for one year.

Proportional Tax - percentage of income paid in tax is the same regardless of level of income.

Corporate Income Tax - tax on corporate profits.

Sales Tax - tax levied on a product at the time of sale, main source of state government revenue.

Investment Tax Credit - tax discount given to business for purchase of equipment.

Estate Tax - tax on the transfer of property when a person dies.

Graduated Income Tax - as income levels cross into higher brackets, only the income above that bracket's floor is subject to the higher rate, not one's entire income.

Crowding Out Effect - economic theory explaining an increase in interest rates due to rising government borrowing in the money market.

Appropriations - government funds earmarked for certain purposes.

Sin Tax - designed to raise revenue and discourage consumption of a socially undesirable product.

Progressive Tax - percentage of income paid in tax rises as level of income rises.

Gift Tax - tax on donations of money or wealth that is paid by the donor.

Benefit Principle of Taxation - belief that taxes should be paid according to the benefits received regardless of income.

Expenditures - government spending.

Ability-to-Pay Principle of Taxation - belief that taxes should be paid according to level of income regardless of benefits received.

Earned Income Credit - a lower tax bracket if an individual meets seven basic criteria including making less than $19,104/year.

Payroll/FICA - tax levied on employers and employees to support Social Security and Medicare.

Public Debt - borrowings by governments to finance expenditures not covered by current tax revenues.

Flat Tax - tax on individual income after a specified threshold has been reached.

Surcharge - additional tax added to other charges already in place.

Intergovernmental Revenue - funds one level of government receives from another level of government.

Deficit Spending - government spending in excess of taxes and other revenues.

Trust Fund - special account used to hold revenues designated for specific expenditures.

Capital Gains Tax - tax on profits from the sale of an asset held for one year.

Investment Tax Credit - tax discount given to business for purchase of equipment.

Revenue - government income.

Tariff/Custom's Duty - tax placed on imported goods.

Value-Added Tax - tax on the value added at every stage of the production process.

Property Tax - tax levied on the real (value) property of the owner.

Personal Income Tax - tax levied on the wages, salaries and other income of individuals.

Tax Loopholes - exception or oversight in the tax law allowing taxpayer to avoid taxes.

Excise Tax - general revenue tax levied on the manufacture or sale of selected items.

Poll Tax - a capital tax levied equally on every adult in the community.

Regressive Tax - percentage of income paid in tax drops as level of income rises.

Entitlement - guarantee of access to benefits because of rights, or by agreement through law.