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Team 2
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Teams
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15
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Jack and Jill file tax return jointly. Standard deduction is $24,800, itemized deduction $32,000. Which number should they use on their tax return?
They should use their itemized deduction, because it is larger of the two.
Oops!
Check
Okay!
Check
15
×
Give some examples of recurring revenues.
Paychecks, alimony, social security benefits.
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Check
Okay!
Check
15
×
What do you do to endorse a check?
You sign it on the back.
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Check
Okay!
Check
15
×
What factors affect your credit score and credit history?
Paying bills timely, not having large outstanding loans, avoiding non-sufficient funds situations.
Oops!
Check
Okay!
Check
×
heart
Other team wins 5 points!
Oops!
×
rocket
Go to first place!
Okay!
×
shark
Other team loses 10 points!
Okay!
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baam
Lose 20 points!
Oops!
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baam
Lose 25 points!
Oops!
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magnet
Take 20 points!
Okay!
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fairy
Take points!
5
10
15
20
25
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thief
Give points!
5
10
15
20
25
15
×
What can causes a non-sufficient fund situation?
Not having enough money in your account to cover a check which you wrote.
Oops!
Check
Okay!
Check
15
×
What is the third party check?
It's a check which you give to somebody after endorsement.
Oops!
Check
Okay!
Check
15
×
Do you have to file tax return regardless of your income?
No, if you have no income, you don't file.
Oops!
Check
Okay!
Check
×
baam
Lose 25 points!
Oops!
×
star
Double points!
Okay!
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rocket
Go to first place!
Okay!
×
thief
Give points!
5
10
15
20
25
15
×
Which items must be included in your monthly budget?
Recurring expenses and revenues (happening on a regular basis).
Oops!
Check
Okay!
Check
15
×
Give an example of an intangible asset.
Goodwill (reputation), brand names, trademarks, licences, patents
Oops!
Check
Okay!
Check
15
×
What does American government tax, your wealth or your income?
Your income.
Oops!
Check
Okay!
Check
15
×
What can be done to avoid non-sufficient funds situation?
Checking your bank balance regularly, and reconciling your checkbook to your bank statement.
Oops!
Check
Okay!
Check
15
×
Bob and Mary file tax return jointly. Standard deduction is $24,800, itemized deduction $15,500. Which number should they use on their tax return?
They should use their standard deduction, because it is larger of the two.
Oops!
Check
Okay!
Check
×
seesaw
Swap points!
Oops!
×
fairy
Take points!
5
10
15
20
25
×
rocket
Go to first place!
Okay!
×
thief
Give points!
5
10
15
20
25
×
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