Income

Descripción

Quiz on Income
Lauren Mcguane
Test por Lauren Mcguane, actualizado hace más de 1 año
Lauren Mcguane
Creado por Lauren Mcguane hace más de 7 años
12
1

Resumen del Recurso

Pregunta 1

Pregunta
What is income?
Respuesta
  • Money you receive
  • Money you spend

Pregunta 2

Pregunta
What is a benefit in kind?
Respuesta
  • Money income (cash)
  • non money income eg a company car

Pregunta 3

Pregunta
What is regular income?
Respuesta
  • It is changeable income (it can differ)
  • It is income you are sure of receiving

Pregunta 4

Pregunta
What it additional income?
Respuesta
  • income you are not sure you will receive.
  • fixed income, it never changes

Pregunta 5

Pregunta
What is pocket money?
Respuesta
  • additional income
  • A small weekly sum of money given to children as an allowance.

Pregunta 6

Pregunta
Wjhat are wages?
Respuesta
  • money received as a bonus
  • Is regular income for hours worked or number of goods produced.

Pregunta 7

Pregunta
What is a salary?
Respuesta
  • Is regular income received for doing a job no matter how many hours you spend at it.
  • income that changes with the amount of hours spent at it

Pregunta 8

Pregunta
What is a Tax refund?
Respuesta
  • Money back from the government when too much tax has been paid.
  • money you have to pay to the government (statutory deductions)

Pregunta 9

Pregunta
Family income support (FIS) is given to families on high income
Respuesta
  • True
  • False

Pregunta 10

Pregunta
What is child benefit?
Respuesta
  • Regular income received once a month from the government if you have children under the age of 16.
  • Regular income received from the government or a pension fund when you retire.

Pregunta 11

Pregunta
What is Social Welfare?
Respuesta
  • Regular income receive weekly from the government if you are unable to work.
  • Addition income received when you invest money in the bank.

Pregunta 12

Pregunta
What is a Pension?
Respuesta
  • Regular income received when you let out your house or a room in your house.
  • Regular income received from the government or a pension fund when you retire.

Pregunta 13

Pregunta
what is Interest on savings?
Respuesta
  • money paid to the government.
  • Addition income received when you invest money in the bank.

Pregunta 14

Pregunta
What is inheritance?
Respuesta
  • Additional income received from a relative or friend when they die.
  • Additional income calculated as a percentage of sales.

Pregunta 15

Pregunta
what is a gift?
Respuesta
  • Additional income received when you have own part of a company and you receive a share of the profits.
  • Additional income received from a relative, friend or employer.

Pregunta 16

Pregunta
what are dividends on shares?
Respuesta
  • Additional income received when you have own part of a company and you receive a share of the profits.
  • Additional income given for reaching certain targets.

Pregunta 17

Pregunta
Time rate is money per hours worked
Respuesta
  • True
  • False

Pregunta 18

Pregunta
Getting paid per number of hours worked
Respuesta
  • True
  • False

Pregunta 19

Pregunta
What is commission?
Respuesta
  • Additional income calculated as a percentage of sales.
  • Regular weekly payment for normal hours worked.

Pregunta 20

Pregunta
What is a bonus?
Respuesta
  • You have a choice if you want to take these out of your wages
  • Additional income given for reaching certain targets.

Pregunta 21

Pregunta
What is Basic pay?
Respuesta
  • Additional payment for working over your normal hours.
  • Regular weekly payment for normal hours worked.

Pregunta 22

Pregunta
What is overtime?
Respuesta
  • Basic pay + overtime after deductions
  • Additional payment for working over your normal hours.

Pregunta 23

Pregunta
What is Net wage? (take home pay)
Respuesta
  • Basic pay + overtime after deductions
  • Basic Wage + Overtime before deductions

Pregunta 24

Pregunta
What is gross wage?
Respuesta
  • Basic Wage + Overtime before deductions
  • wages after deductions (take home pay)

Pregunta 25

Pregunta
what are voluntary deductions?
Respuesta
  • You do not have a choice these must be taken from your wages.
  • You have a choice if you want to take these out of your wages.

Pregunta 26

Pregunta
what are statutory deductions?
Respuesta
  • You do not have a choice these must be taken from your wages.
  • money made from investing in a bank (Interest)

Pregunta 27

Pregunta
What are the consequential benefits of PAYE
Respuesta
  • Old Age Pension
  • Use of national roads
  • Education in schools
  • Use of a public ward in the hospital

Pregunta 28

Pregunta
What are the consequential benefits of paying PRSI
Respuesta
  • Old Age Pension
  • Unemployment Benefit
  • Use of national roads
  • Maternity Benefit
  • Sickness Benefit
  • Education in schools
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