Payroll Management Flashcard

Payroll Management Flashcard

Assessment

Flashcard

Professional Development

Professional Development

Hard

Created by

Wayground Content

FREE Resource

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24 questions

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1.

FLASHCARD QUESTION

Front

What is payroll?

Back

The compensation a company pays to its employees for a specified period of time.

2.

FLASHCARD QUESTION

Front

What does gross income include?

Back

Regular income, allowances, and other one-time benefits.

3.

FLASHCARD QUESTION

Front

What is the equation to calculate net pay?

Back

Net pay = Gross income – Gross deduction

4.

FLASHCARD QUESTION

Front

What are the three main stages in the payroll management process?

Back

Before, during, and after the process.

5.

FLASHCARD QUESTION

Front

What is the purpose of defining payroll policy?

Back

To ensure the payout process goes smoothly.

6.

FLASHCARD QUESTION

Front

What is the benefit of using payroll software?

Back

It saves time and manages employee details.

7.

FLASHCARD QUESTION

Front

What is the importance of payroll management?

Back

It ensures security and stability.

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