Unit 3 Test: Chapter 12-13-Part 1

A fixed annual sum of money divided among equal pay periods.

• salary

• commission

• payroll

• wage

2. The total gross earnings year to date for an employee.

• estimated earnings
• employee earnings
• accumulated earnings
• net earnings

3. The maximum amount of gross earnings on which a tax is calculated.

• total earnings
• tax base
• net earnings
• accumulated earnings

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

• ATM
• deposit
• direct deposit
• electronic transfer

5. The number of days or weeks of work covered by an employee's paycheck.

• earnings period
• two weeks
• time period
• pay period

6. A federal tax paid for hospital insurance.

• federal tax
• social security tax
• Medicare tax
• state tax

7. A business form used to record details of an employee's earnings and deductions.

• estimated earnings
• accumluated earnings
• employee earnings record
• net earnings

8. A federal tax paid for old-age, survivors, and disability insurance

• social security tax
• payroll deduction
• Medicare tax
• federal tax

9. The accounting staff position that compiles and computes payroll data, then prepares, journalizes, and posts payroll transactions.

• accounts payable clerk
• payroll clerk
• accounts receivable clerk

10. A device used to record the dates and times of every employee's arrivals and departures.

• ID card reader
• time clock
• time cards
• finger print reader