WorksheetsPaycheck Terminology
Total questions: 10
Worksheet time: 10mins
Define paycheck.
(a)
What is gross pay?
(a)
What taxes are deducted from the gross pay before your check is given?
State, Federal, FICA, EMST, Medicare, SUI, EIT
State and Federal only
No taxes are taken out; my money is my money
Define net pay.
what money you can gather in a net
the amount of money earned after taxes and other deductions
total amount of money earned before taxes and other deductions
Define tax withholdings.
(a)
What is the difference between between a paper check and direct deposit?
a paper check is safer, and direct deposit is a hassle
they are basically the same
a paper check is an actual check, direct deposit is where the money earned is directly deposited into the employee's back account
Who is the payee?
your boss/employer (the place that pays you)
you
your co-worker
Why is the routing number important?
located on the bottom of the check, it serves as an "address" for your bank
located on the bottom of the check, it's a number that routes (directs) you to your employer
located on the bottom of the check, it's just a number with a silly name
Why do you want to write the check amount on the designated line on a check?
to reduce confusion and avoid fraud
"the man" makes us
it's just another thing we have to do when writing checks
T/F: The more money you make, the less taxes are taken out.
True
False
