Reading and Understanding Paystubs

A pay period or pay schedule for employees is determined by the

• employee.

• government.

• employer

• None of the above.

The most common pay schedule used by businesses are

• monthly.

• semi-monthly.

• weekly or biweekly.

• All of the above.

Employees that are in management positions often

• are paid hourly.

• earn a salary.

• are paid once a earn.

• All of the above.

Common deductions made to employees’ wages are

• health and dental insurance.

• state and federal taxes.

• FICA, social security, and retirement.

• All of the above.

The amount on your paycheck in which all deductions have been made will represent your

• gross pay.

• net pay.

• Deductions.

• All of the above.

Being able to read a paystub is important because it will tell you

• if you were paid correctly and what deductions were made.

• who is the boss.

• how much you have saved for retirement.

• All of the above.

The percentage of a person’s pay that is deducted for FICA-Social Security is

• 1%

• 3%

• 6.2%

• 10%

The percentage of a person’s pay that is deducted for FICA-Medicare is

• 0 %

• 1.45%

• 5%

• 10%

A worker’s wages are most often based on how many hours a person works and the hourly wage or pay scale they receive.

• True

• False

Not all employees are paid an hourly wage, some employees receive a salary.

• True

• False