ECC2 - Paychecks Segment

Paychecks are issued to deliver ___________ to employees.

• compensation

• announcements

• information

• incentives

A Paycheck _____ is a document provided to employees detailing how much money employees were paid.

• stub

• list

• record

• summary

Paycheck stubs detail ___________.

• the earnings and deductions of an employee.

• only the gross pay amount.

• only the net pay amount.

• only the employee's working hours.

Gross Pay includes wages, overtime pay, other forms of compensation, bonuses, etc.

• TRUE

• FALSE

Employee Withholdings are the amount of an employee’s wages which ___________ in a paycheck.

• are deducted

• are paid

• are earned

• are deposited

The higher the Employee Withholdings are, the lower an employees _______ is.

• net pay

• benefits earned

• days off

• gross pay

Mandated Deductions are ___________ in order for an organization to issue employee paychecks.

• required

• voluntary

• optional

• elective

FICA (Federal Insurance Contributions Act) tax includes Social Security and _______.

• State Taxes

• Medicaid

• 401(k)

• Federal Taxes

Which of the following DO NOT influence mandated deductions?

• income level

• marital status

• exemptions

• career choice

Net Pay is the total amount an employee is paid ________ mandated and voluntary deductions. It is sometimes referred to as “________”.

• before; take home pay

• after; steady income

• before; gross pay

• after; take home pay