Skill 8 - Net Pay

Skill 8 - Net Pay

By H Martin

Net Pay

Net Pay = Gross Pay - Deductions ​

Subject | Subject

Some text here about the topic of discussion

Deductions

​

Include:

• Taxes (the more you make the more taxes you pay)​

• CPP (Canadian Pension Plan)

• EI (Employment Insurance)​

Subject | Subject

Some text here about the topic of discussion

Multiple Choice

The total amount you earn before any deductions are subtracted is called __________ pay.

• Bonus
• Gross
• Incentive
• Net

Multiple Choice

__________ is time worked beyond the regular hours.

• Flextime
• Bonus
• Wage
• Overtime

Multiple Choice

Which tends to be a 'larger' amount of money? Gross or Net Pay?

• Gross Pay

• Net Pay

Multiple Choice

How can we calculate Net Pay?

• Gross Pay + Deductions

• Gross Pay - Deductions

• Gross Pay x Deductions

• Gross Pay / Deductions

Multiple Choice

Calculate the income tax owed on $800/week gross pay.

• $125

• $150

• $200

• $225

Multiple Choice

Calculate the CPP owed on $800/week gross pay.

• $4.56

• $45.60

• $56

• $456

Multiple Choice

Calculate the EI owed on $800/week gross pay.

• $0.1264

• $1.26

• $12.64

• $126.40

Multiple Choice

Calculate the net pay owed on $800/week gross pay.

• $754.40

• $600

• $554.40

• $541.76

Multiple Choice

Calculate the income tax owed on $1000/week gross pay.

• $158.39

• $142.74

• $123.62

• $17.39

Multiple Choice

Calculate the CPP owed on $1000/week gross pay.

• $0.57

• $5.70

• $57.00

• $114.00

Multiple Choice

Calculate the EI owed on $1000/week gross pay.

• $15.80

• $158.00

• $1.58

• $0.158

Multiple Choice

Calculate the net pay on $1000/week gross pay.

• $652.48

• $702.61

• $768.81

• $784.61

Multiple Choice

How many weeks are in a year?

• 26

• 4

• 12

• 52

Multiple Choice

What is the length of the pay period?

• two weeks
• one week 
• a month
• three weeks 

Multiple Choice

What is the gross amount for the year?

• 6,590.59
• 22,400
• 15,809.41
• 2,240

Multiple Choice

How much is their gross pay?

• 1950

• 488.74

• 1002

• 501