Understanding Your Paycheck

Understanding Your Paycheck

12th Grade

•

25 Qs

quiz-placeholder

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Understanding Your Paycheck

Understanding Your Paycheck

Assessment

Quiz

•

Social Studies

•

12th Grade

•

Practice Problem

•

Hard

Created by

John Robinson

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25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a check for salary or wages made out to an employee called?

Direct Deposit

Paycheck

Gross Pay

Net Pay

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is a piece of paper or digital record that shows the amount of money earned and the amount removed for deductions and taxes?

Paycheck

Pay Stub

Direct Deposit

Gross Pay

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the amount of money you receive in your paycheck after taxes and other deductions are taken out?

Gross Pay

Net Pay

Direct Deposit

Pay Stub

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

FICA taxes are

U.S. federal payroll taxes imposed on both employees and employers to fund Social Security and Medicare

U.S. federal payroll taxes imposed on employees only to fund Social Security and Medicare.

U.S. federal payroll taxes imposed on both employees and employers to fund Social Security.

U.S. federal payroll taxes imposed on employers only to fund Social Security and Medicare

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An employee's pay stub shows a deduction for "401(k)". What does this deduction represent?

Health insurance premium

Retirement savings contribution

Union dues

Federal income tax

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You can control how much or how little your employer withholds from your paycheck using the Form ____.

W-4

W-2

WD-40

W-1

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What is the term for the total amount of money earned before any deductions are made?

Gross Pay

Net Pay

Take-home Pay

Disposable Income

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