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Payroll Terminology and Concepts

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Questions and Answers

Which of the following is included in payroll?

Marketing expenses

Employee benefits (correct)

Capital investments

Sales revenue

Which term refers to all remuneration for services performed by an employee for their employer?

Sales

Marketing

Compensation (correct)

Investment

What is the purpose of the Wage Rationalization Act?

To increase employee benefits

To regulate overtime pay

To fix the minimum wages for different sectors (correct)

To exempt employees from paying taxes

Is withholding tax required on the Statutory Minimum Wage (SMW) of a Minimum Wage earner?

<p>No</p> Signup and view all the answers

What does the term 'payroll' encompass?

<p>Employee compensation</p> Signup and view all the answers

Payroll Terminology and Concepts

Choose a study mode

Podcast

Questions and Answers

Which of the following is included in payroll?

Which term refers to all remuneration for services performed by an employee for their employer?

What is the purpose of the Wage Rationalization Act?

Is withholding tax required on the Statutory Minimum Wage (SMW) of a Minimum Wage earner?

What does the term 'payroll' encompass?

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