U4 - Paychecks Continued

What information is typically found on a paycheck or pay stub?

• Employer's name and address

• Employee's favorite color

• Employee's pet's name

• Employer's phone number

What is the significance of the check number on a paycheck?

• It identifies the specific check

• It indicates the employee's age

• It shows the company's revenue

• It lists the employee's job title

What is the significance of the 'SOC SEC #' on a pay stub?

• It is the employee's Social Security Number

• It is the employee's phone number

• It is the employer's tax ID

• It is the company's registration number

What is the purpose of the 'EMP STAT' section on a pay stub?

• To indicate the employee's employment status

• To list the employee's job title

• To show the employee's age

• To display the employee's department

What does 'VOL DEDUCTIONS' mean on a pay stub?

• Voluntary deductions chosen by the employee

• Mandatory deductions required by law

• Total earnings before deductions

• Employee's bonus

What is the purpose of FICA taxes?

• To fund local government projects

• To provide benefits for retirement and disability

• To pay for state education

• To support federal infrastructure

What does the "EMP STAT" section indicate on a paycheck stub?

• Employee's job title

• Employee's marital status and number of exemptions

• Employee's department

• Employee's salary

What does the "SOC SEC #" represent on a paycheck stub?

• Employee's social security number

• Employee's phone number

• Employee's tax ID number

• Employee's bank account number

What does the "LOCAL" section on a paycheck stub refer to?

• Local government fees

• Local taxes withheld

• Local business expenses

• Local transportation costs

What is the gross pay amount for Michael in the current paycheck?

• $286.72

• $566.43

• $350.45

• $43.33