Chapter 12 Review

The money paid for employee services is called a salary

• False

• True

The period covered by a salary payment

• Salary

• Net pay

• Pay period

• Payroll

The total amount earned by all employees for a pay period

• Total earnings

• Salary

• Payroll

• Employee earnings record

The total pay due for a pay period before deductions

• Total earnings

• Net pay

• Employee earnings record

• Payroll

Tax based on the payroll of a business

• Tax base

• Payroll

• Pay period

• Payroll taxes

A deduction from total earnings for each person legally supported by a taxpayer, including the employee is called a withholding allowance

• False

• True

A federal tax paid for old-age, survivors, & disability insurance

• Payroll tax

• Federal tax

• Social security tax

• Medicare tax

A federal tax paid for hospital insurance

• Social security tax

• Tax base

• Payroll tax

• Medicare tax

The maximum amount of earnings on which a tax is calculated

• Medicare tax

• Payroll taxes

• Tax base

• Withholding allowance

A business form used to record payroll information

• Withholding allowance

• Payroll

• Pay period

• Payroll register