E and PF Module 1 Lesson 1 Terms

What is the definition of "Quality of Life"?

• The amount of money received before taxes and deductions are taken out.

• A comprehensive measure of an individual’s overall well-being.

• The amount of people within a country who are able to do a job and are available for employment.

What does "Workforce" refer to?

• The amount of money received before taxes and deductions are taken out.

• A comprehensive measure of an individual’s overall well-being.

• The amount of people within a country who are able to do a job and are available for employment.

What are "Employee Benefits"?

• The amount of money received before taxes and deductions are taken out.

• A form of compensation that can be non-cash or cash provided by employers to employees.

• The income a person has left after all taxes have been paid.

What is the purpose of "Employee Incentives"?

• To motivate employees to meet goals for their business (rewards and privileges).

• The amount of money received before taxes and deductions are taken out.

• The income a person has left after all taxes have been paid.

What is "Gross Pay"?

• The amount of money received before taxes and deductions are taken out.

• The amount of money that remains after taxes and deductions are taken out.

• The income a person has left after all taxes have been paid.

What is "Net Pay"?

• The amount of money received before taxes and deductions are taken out.

• The amount of money that remains after taxes and deductions are taken out that an employee gets to take home with them.

• The income a person has left after all taxes have been paid.

What is "Disposable Income"?

• The amount of money that remains after taxes and deductions are taken out that an employee gets to take home with them.

• The income a person has left after all taxes have been paid and is used to buy necessities.

• Income left after disposable income, which can be saved or spent on luxury items or entertainment.

What is "Discretionary Income"?

• The amount of money that remains after taxes and deductions are taken out that an employee gets to take home with them.

• The income a person has left after all taxes have been paid and is used to buy necessities.

• Income left after disposable income, which can be saved or spent on luxury items or entertainment.

What is "Personal Net Worth"?

• A balance of your assets (the things you own) minus your debts (the things you owe).

• The amount of money received before taxes and deductions are taken out.

• The amount of money that remains after taxes and deductions are taken out that an employee gets to take home with them.

What are "Grants"?

• A balance of your assets (the things you own) minus your debts (the things you owe).

• Financial assistance for college based on needs.

• The amount of money received before taxes and deductions are taken out.