Mastering Paystubs

Which type of payment is based on how many hours a person works and their hourly wage or pay scale?

Wages

What is a pay period?

The time period in which an employee worked and is being paid for

Which type of payment is a fixed regular payment based on an agreed amount between the employer and the employee?

Salary

Which payroll schedule is used by businesses every two weeks?

Biweekly Signup and view all the answers

What is the amount you receive after all deductions are taken from your total earnings called?

Net pay Signup and view all the answers

Which type of tax is deducted from your paycheck and paid to the federal government?

State Income Tax Signup and view all the answers

Which deduction provides short-term disability insurance and paid family leave benefits to eligible workers?

State Disability Insurance Signup and view all the answers

Which deduction is imposed on both employees and employers to fund Social Security and Medicare?

FICA-Social Security and Medicare Signup and view all the answers

Which deduction is required for more and more employees to contribute to paying for their own coverage?

Health Insurance Signup and view all the answers

Which type of tax is deducted from your paycheck and paid to the state you are living in?

State Income Tax Signup and view all the answers

True or false: Deductions are made from your gross pay before they are referred to as your net pay?

True Signup and view all the answers

True or false: FICA-Social Security and Medicare is a federal tax imposed on both employees and employers?

True Signup and view all the answers

True or false: Only seven states in the United States do not have an income tax?

True Signup and view all the answers

Match the following deductions with their descriptions:

Federal Income Tax = Tax paid to the federal government based on income level and filing status State Income Tax = Tax paid to the state of residence based on income and filing status FICA-Social Security and Medicare = Federal payroll tax imposed on both employees and employers to fund Social Security and Medicare Health Insurance = Employee contribution to their health insurance plan Signup and view all the answers

Match the following terms with their definitions:

Deduction = Any amount of money subtracted from your check Gross Pay = Total amount of pay or wages before deductions are made Paystub = Document attached to paycheck containing information about earnings, taxes, and deductions State Disability Insurance (SDI) = Tax providing short-term disability insurance and paid family leave benefits to eligible workers in certain states Signup and view all the answers

Match the following facts with their respective deductions:

Paid by both employees and employers = FICA-Social Security and Medicare Depends on the income level and filing status = Federal Income Tax Average cost for an employee is $1,071 a year for single coverage = Health Insurance Exists in several of the larger states such as California and New York = State Disability Insurance (SDI) Signup and view all the answers

Mastering Paystubs

Questions and Answers

Which type of payment is based on how many hours a person works and their hourly wage or pay scale?

What is a pay period?

Which type of payment is a fixed regular payment based on an agreed amount between the employer and the employee?

Which payroll schedule is used by businesses every two weeks?

What is the amount you receive after all deductions are taken from your total earnings called?

Which type of tax is deducted from your paycheck and paid to the federal government?

Which deduction provides short-term disability insurance and paid family leave benefits to eligible workers?

Which deduction is imposed on both employees and employers to fund Social Security and Medicare?

Which deduction is required for more and more employees to contribute to paying for their own coverage?

Which type of tax is deducted from your paycheck and paid to the state you are living in?

True or false: Deductions are made from your gross pay before they are referred to as your net pay?

True or false: FICA-Social Security and Medicare is a federal tax imposed on both employees and employers?

True or false: Only seven states in the United States do not have an income tax?

Match the following deductions with their descriptions:

Match the following terms with their definitions:

Match the following facts with their respective deductions:

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