Accounting - Chapter 12

Accounting - Chapter 12

KG - University

•

33 Qs

quiz-placeholder

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Accounting - Chapter 12

Accounting - Chapter 12

Assessment

Quiz

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Life Skills

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KG - University

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Practice Problem

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Medium

Created by

Kris Miller

Used 54+ times

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33 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A deduction from total earnings for each person legally supported by a taxpayer, including the employee.

Payroll taxes

Withholding allowance

Social Security tax

None of the above

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A federal tax paid for hospital insurance

Social Security tax
Payroll tax
Medicare tax
None of the above

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A qualified retirement plan that allows tax-free withdrawals from the account

Roth individual retirement account

Individual retirement account

401(k)

None of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A method of paying an employee based on the amount of sales the employee generates

Salary

Commission

Net pay

Payroll

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A qualified retirement plan sponsored by an employer

Roth individual retirement account

Individual retirement account

401(k)

None of the above

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The payment of an employee's net pay using electronic funds transfer

Electronic funds transfer

Net pay

Voucher check

Direct Deposit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The maximum amount of earnings on which a tax is calculated

Tax base
Salary
Total earnings
Withholding allowance

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