Personal Finance-Chapter 6-Pay, Benefits & Working Condition

Flextime is another word for permanent part-time employment.

• True
• False

Federal tax is an optional deduction from your paycheck.

• True
• False

Labor unions and professional organizations are the same thing.

• True
• False

Annual salary refers to the amount of pay to be received each month.

• True
• False

Social security tax is an example of a required deduction from your paycheck.

• True
• False

Some companies will allow a leave of absence to employees who want to complete their education.

• True
• False

Cafeteria-style benefits allow workers to base their job benefits on personal needs.

• True
• False

Overtime wages are usually calculated at twice the regular hourly rate.

• True
• False

Although some workers do not belong to unions, it is generally true that they benefit because of the existence of unions.

• True
• False

The amount left after all deductions have been subtracted from gross pay is known as net pay.

• True
• False