Payroll and Deductions Review

What are the amounts of money that are deducted from a worker's gross salary called?

• Gross salary

• Net salary

• Deductions

• Salary

Which of the following is NOT a required federal deduction?

• Social Security Tax

• Medicare

• FICA

• Healthcare

What is the name of the form used to report wages paid to employees and the taxes withheld from them?

• W-4 Tax Form

• Pay Stub

• FICA Form

• Salary Form

Which of the following is a voluntary deduction?

• Social Security Tax

• Union Dues

• Medicare

• FICA

What is the term for the amount of money left after all payroll deductions for an employee?

• Gross pay

• Net pay

• Salary

• Disposable income

Which document provides a detailed list of deductions and amounts withheld from a worker's gross salary?

• W-4 Tax Form

• Pay Stub

• FICA Form

• Salary Form

What does FICA mean?

• Federal Insurance Contributions Act

• Federal Income Contributions Act

• Federal Insurance Collection Act

• Federal Income Collection Act

What is the specific hourly rate of money paid to an employee called?

• Salary

• Gross pay

• Hourly wage

• Net pay

What is the term for the amount of money left after deducting taxes that a person can save or spend?

• Gross pay

• Net pay

• Disposable income

• Salary

What is the term for the number of days an employee works and is paid for in their paycheck?

• Pay period

• Pay day

• Salary

• Hourly wage