What is the purpose of Federal Income Tax?

To support building federal infrastructure, the military, social programs, and more

To fund personal retirement accounts

To pay for state education and other state programs

To provide healthcare services to all citizens

Is State Income Tax paid to the state where the employee lives or works?

Where the employer is headquartered

Do all states have an income tax?

No, not all states have an income tax

Yes, all states have an income tax

Only states with large populations have an income tax

Only states with no federal funding have an income tax

What is State Income Tax used for in the states that have it?

To fund state education and other state programs

To build federal infrastructure

What does FICA stand for?

Federal Insurance Contributions Act

Federal Income Certification Act

Financial Insurance Contributions Agency

Fiscal Insurance Contributions Association

What benefits does the Social Security Tax fund provide?

Retirement income for people 62 and older

Health insurance for people 65 and older

What is usually required from employees in regards to health insurance provided by their companies?

Employees are required to pay a portion of the cost of the insurance.

Employees are required to pay the full cost of the insurance.

Employees are not required to pay for the insurance.

Employees are required to find their own insurance.

What information does the employee information box on an earnings statement provide?

Social Security number, employee ID, and paycheck dates

Employee's full name, address, and phone number

Employee's tax rates and health insurance details

Company's name, employee's position, and department

What does the abbreviation "FICA Med Tax" stand for?

Federal Insurance Contributions Act Medical Tax

Federal Income Calculation Adjustment Medical Tax

Fiscal Calculation Agency Medical Tax

Financial Contributions Act Medical Tax

What is the meaning of "FICA SS Tax" as shown on the pay stub?

Federal Insurance Contributions Act Social Security Tax

Fiscal Security Contributions Act Social Service Tax

Federal Income Contributions Act Social Service Tax

Financial Insurance Contributions Act Social Security Tax

What does YTD Gross represent on an earnings statement?

The amount of money earned before deductions for the year.

The amount of money earned after deductions for the year.

The total amount of deductions for the year.

The net pay received after all deductions for the year.

What does YTD Deductions represent on the Earnings Statement?

The total amount subtracted from your check for the year.

The total amount added to your check for the year.

The total net pay for the year.

The total gross pay for the year.

What does YTD Net represent on an earnings statement?

The amount you have earned after deductions for the year.

The amount you have earned before deductions for the year.

The total amount of taxes you have paid for the year.

The total amount of your earnings without considering the time period.

What does the term "deductions" refer to on an earnings statement?

The total amount subtracted from this check.

The total amount added to this check.

The total hours worked in the pay period.

PayStub Quiz

Quiz

•

Mathematics

•

7th Grade

•

Practice Problem

•

Hard

•

CCSS

7.NS.A.1, 7.RP.A.3, RI.7.7

+15

Standards-aligned

Branislava Ostojic

Used 14+ times

FREE Resource

31 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is a pay stub?

A form of identification for employees.

A record of an employee's wages, taxes, and deductions.

A monthly report of company profits.

A document outlining company policies.

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

How often are pay stubs typically given to employees?

With every paycheck.

Once a month.

Annually with tax returns.

At the end of each project.

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What purpose do pay stubs serve for employees?

They are used to track work hours only.

They provide proof of residency.

They allow employees to verify their pay is correct, have tax records, and provide proof of income or employment when applying for housing or loans.

They are used for voting in company elections.

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What does Gross Pay refer to?

The amount of pay after taxes and deductions

The total amount from January 1st to the current pay period

The amount of pay before any taxes, benefits, or other deductions are taken out

The amount paid to the employee on their paycheck

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What is Net Pay?

The amount of pay before any taxes, benefits, or other deductions are taken out

The total amount from January 1st to the current pay period

The amount of pay after taxes, benefits, or other deductions are taken out

The abbreviation for Year to Date

Tags

CCSS.7.NS.A.1

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What does the abbreviation YTD stand for?

Year to Date

Your Total Deductions

Yearly Tax Deductions

Yearly Total Deposit

Tags

CCSS.RI.6.7

CCSS.RI.7.7

CCSS.RI.8.7

CCSS.RL.7.7

CCSS.RL.8.7

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

What are deductions in the context of an employee's paycheck?

Bonuses added to an employee's paycheck

money taken out from an employee's paycheck, usually to pay taxes and benefits

The total amount of money an employee earns before taxes

The amount of money an employee takes home after work hours

Tags

CCSS.7.NS.A.1

CCSS.7.RP.A.2

CCSS.7.RP.A.3

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PayStub Quiz

31 questions

What is a pay stub?

How often are pay stubs typically given to employees?

What purpose do pay stubs serve for employees?

What does Gross Pay refer to?

What is Net Pay?

What does the abbreviation YTD stand for?

What are deductions in the context of an employee's paycheck?

Which of the following deductions are mandatory?

Which type of deduction can be optional?

What is the purpose of Federal Income Tax?

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