Income and Taxes

Front

The Fair Labor Standards Act_______?

Back

is used by the government to set the minimum wage.

Front

Money added to an employee's base pay is a ________.

Back

bonus

Front

A federal expense item that can be adjusted according to needs and revenues is a(n)

Back

discretionary expenditure

Front

Governments may use taxes to ______.

Back

all answers are correct

Front

A tax, levied by federal and state governments on the sale and transfer of items like air travel, telephone services, and gasoline, is referred to as a(n) _______.

Back

excise tax

Front

A newly hired employee will be asked to complete a ________.

Back

W4

Front

A noncash compensation received in addition to a wage or salary is a(n) ______.

Back

employee benefit

Front

_____ refers to the amount of time an employee spends at work compared to the amount of time spent in personal life.

Back

Work-life balance

Front

The largest government entitlement program currently is _____.

Back

Social Security

Front

The total income before payroll deductions is called_____

Back

gross pay