1: What is the difference between gross income and net income?
2: What is the definition of “earned income”?
3: What is a “tax”?
4: What is a “tax deduction”?
5: Which of the following is an example of a tax credit?
6: Which type of income is usually subject to taxation?
7: Which of the following might qualify for a tax exemption?
8: What is the purpose of a tax exemption?
9: How does a tax credit differ from a tax deduction?
10: What is the “gross pay”?