Paycheck Frequency and Pay Periods Flashcard

Front

How frequently does Hope receive a paycheck? Options: Daily, Weekly, Twice Per Month, Monthly

Back

Twice Per Month

Front

Assuming that Hope receives a paycheck at regular intervals similar to the stub shown, how many pay periods has Hope had year-to-date (YTD)?

Back

9

Front

Which statement below accurately describes Hope’s gross wages? Gross wages are calculated by multiplying Hope’s hourly rate by the number of hours she worked, Gross wages are Hope’s fixed salary, which she receives for every pay period, Gross wages are calculated by subtracting all of Hope’s deductions from her gross income, Gross wages are how much Hope has earned over the course of the entire year

Back

Gross wages are calculated by multiplying Hope’s hourly rate by the number of hours she worked.

Front

What was the largest deduction for this pay period? Options: FICA Medicare Tax, FICA Social Security Tax, Federal Tax, NC State Tax

Back

Federal Tax

Front

Look at the lines that say HEALTH, DENTAL, and RETIREMENT. Which statement below is accurate?

Back

Those lines represent insurance and retirement plans that Hope funds directly from her paycheck.

Front

What was the TOTAL amount deducted from Hope's latest paycheck?

Back

$315.21

Front

One of Hope’s coworkers quits, and during the next pay period Hope works 60 hours instead of 40 to help cover the shifts. Which of Hope’s deductions will definitely change as a result?

Back

Her Federal tax

Front

Which of the following statements is TRUE?
Hope has had more deductions this year than take home pay
Hope has more take home pay this year than deductions
Hope has had equal amounts of take home pay and deductions this year
Hope’s paystub only shows deductions and take home pay for this pay period, not the entire year to date

Back

Hope has had more deductions this year than take home pay

Front

Hope's employer deposits her paycheck directly into her checking account. How much would her employer have deposited into Hope's checking account on the most recent payday of 5/21/20? Options: $40.00, $284.79, $315.21, $600.00

Back

$284.79

Front

What important information is available on a pay stub?

Back

Deductions and take home pay