Reading and Understanding Paystubs

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A pay period or pay schedule for employees is determined by the

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employer

Front

The most common pay schedule used by businesses are

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monthly, semi-monthly, weekly or biweekly, All of the above.

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Employees that are in management positions often

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earn a salary.

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Common deductions made to employees’ wages are: health and dental insurance, state and federal taxes, FICA, social security, and retirement.

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All of the above.

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The amount on your paycheck in which all deductions have been made will represent your

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net pay.

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Being able to read a paystub is important because it will tell you

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if you were paid correctly and what deductions were made.

Front

The percentage of a person’s pay that is deducted for FICA-Social Security is

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6.2%

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The percentage of a person’s pay that is deducted for FICA-Medicare is

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1.45%.

Front

A worker’s wages are most often based on how many hours a person works and the hourly wage or pay scale they receive.

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True

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Not all employees are paid an hourly wage, some employees receive a salary.

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True