Personal Finance Final - Fall 2018

What two forms must an employee complete when beginning a new job?

• Form W-4 and Form I-9

• Driver's License and Social Security Card

• Form W-2 and Form I-9

• Form W-4 and Form W-2

What documentation must be provided to complete a Form I-9?

• driver's license

• social security card

• birth certificate

• any of these

What does the Form W-4 determine?

• amount of gross income which will be withheld for taxes

• amount of money earned and paid in taxes throughout the previous year

• potential employee is able to work in the United States

• all of these

Employers directly deposit an employee's paycheck into his/her bank account and send the employee the pay stub

• direct deposit

• payroll card

• paycheck

• pay period

Electronically carries the balance of the employee's net income.

• direct deposit

• payroll card

• paycheck

• pay period

What was the method discussed that an employer may use to pay his/her employees?

• direct deposit

• payroll card

• paycheck

• all of these

The length of time for which an employee's wages are calculated.

• direct deposit

• payroll card

• paycheck

• pay period

What information is provided on the Form W-2?

• amount of gross income which will be withheld for taxes

• amount of money earned and paid in taxes throughout the previous year

• potential employee is able to work in the United States

• all of these

Totals the payroll withholdings that have been deducted from January 1 to the last day of the pay period.

• year-to-date

• gross income

• net income

• payroll withholdings

Calculated by multiplying the number of hours worked by the hourly wage.

• year-to-date

• gross income

• net income

• payroll withholdings