Bank Statements and Pay Stub Review

Front

What happens to your account balance when you pay your bills?

Back

Your account balance decreases.

Front

What is the amount Miss Hall received as wages?

Back

$212.85

Front

What does ATM stand for in banking?

Back

Automated Teller Machine.

Front

What is the difference between gross pay and net pay?

Back

Gross pay is the total earnings before deductions, while net pay is the amount received after deductions.

Front

If Brenda’s net pay is $525 and her gross pay is $700, how much is deducted from her paycheck?

Back

$175.00

Front

What is a pay stub?

Back

A pay stub is a document that outlines an employee's earnings and deductions for a specific pay period.

Front

What is the purpose of reviewing a bank statement?

Back

To track transactions, verify account balance, and identify any discrepancies.

Front

What is net pay?

Back

Net pay is the amount of money an employee takes home after all deductions.

Front

What is gross pay?

Back

Gross pay is the total amount earned by an employee before any deductions.

Front

What is a deduction in terms of a paycheck?

Back

A deduction is an amount taken out of an employee's gross pay for taxes, benefits, or other purposes.