Income

Descrição

Quiz on Income
Lauren Mcguane
Quiz por Lauren Mcguane, atualizado more than 1 year ago
Lauren Mcguane
Criado por Lauren Mcguane mais de 7 anos atrás
12
1

Resumo de Recurso

Questão 1

Questão
What is income?
Responda
  • Money you receive
  • Money you spend

Questão 2

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

Questão 3

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

Questão 4

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

Questão 5

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

Questão 6

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

Questão 7

Questão
What is a salary?
Responda
  • 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

Questão 8

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

Questão 9

Questão
Family income support (FIS) is given to families on high income
Responda
  • True
  • False

Questão 10

Questão
What is child benefit?
Responda
  • 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.

Questão 11

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

Questão 12

Questão
What is a Pension?
Responda
  • 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.

Questão 13

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

Questão 14

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

Questão 15

Questão
what is a gift?
Responda
  • 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.

Questão 16

Questão
what are dividends on shares?
Responda
  • 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.

Questão 17

Questão
Time rate is money per hours worked
Responda
  • True
  • False

Questão 18

Questão
Getting paid per number of hours worked
Responda
  • True
  • False

Questão 19

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

Questão 20

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

Questão 21

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

Questão 22

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

Questão 23

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

Questão 24

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

Questão 25

Questão
what are voluntary deductions?
Responda
  • 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.

Questão 26

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

Questão 27

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

Questão 28

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

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