Online applied education Review #1

What does IRS stand for?

• Indoor Residual Spraying

• Internal Revenue Service

• Insulin Receptor Substrate

• Information Reporting System

What is a FICA?

• A social security retirement tax

• Federal insurance

• A income

Gross pay is the amount of income before taxes and other deductions

• True

• False

A program for hospitals and physicians for people over 65

• Medicare

• Insurance

• Finacial aid

Net pay is also known as a take home pay

• True

• False

What's a check stub?

• What you give to the bank to deposit.

• The part of a paycheck that lists deductions from your salary

• It's an envelope.

Tags

CCSS.RI.8.7

CCSS.RI.9-10.7

CCSS.RL.7.7

CCSS.RL.8.7

CCSS.RL.9-10.7

What's a pay period?

• The length of time for which an employee's wages are calculated; most are weekly, bi-weekly, twice a month or monthly.

• It's a time sheet.

• a paper document issued by an employer to pay an employee for services rendered

Tags

CCSS.7.NS.A.3

What's a deduction?

• It's the extra money you receive on your paycheck for working overtime.

• The amount of money taken from an employee's gross pay for taxes, insurance, social security and other benefits.

• When an employee loses his/her job because they are absent to much,

Tags

CCSS.6.NS.C.7C

What are some optional deductions?

• Let's just eat cake!

• There are no optional deductions.

• Medical and 401K

Money received from work

• retirement

• paycheck

• trust fund