WorksheetsPayroll
Total questions: 20
Worksheet time: 10mins
Wage
Number of days of weeks of work covered by an employee's paycheck
Total amount earned by all employees for a payroll period
Amount paid to an employee for every hour worked
A fixed sum of money divided among equal pay periods
Salary
Number of days of weeks of work covered by an employee's paycheck
Total amount earned by all employees for a payroll period
Amount paid to an employee for every hour worked
A fixed sum of money divided among equal pay periods
Pay Period
Number of days of weeks of work covered by an employee's paycheck
Total amount earned by all employees for a payroll period
Amount paid to an employee for every hour worked
A fixed sum of money divided among equal pay periods
Payroll
Number of days of weeks of work covered by an employee's paycheck
Total amount earned by all employees for a payroll period
Amount paid to an employee for every hour worked
A fixed sum of money divided among equal pay periods
Payroll taxes
A deductions from total earning for each person legally supported by taxpayer and employer
Total amount earned by all employees for a payroll period
Taxes based on payroll of a business (required by law)
A fixed sum of money divided among equal pay periods
Withholding allowance
A deductions from total earning for each person legally supported by taxpayer and employer
Total amount earned by all employees for a payroll period
Taxes based on payroll of a business (required by law)
A fixed sum of money divided among equal pay periods
Which one of these is not a way for a Company to do their payroll?
Outsource
Software
Employer does themselves
Employee does it themselves
What form must be provided yearly by your employer to each employee showing the total salary earned and the taxes withheld?
W2
W3
W6
W5
Gross income
Individual earnings after taxes, garnishments and contributions
An individual's income before taxes and adjustments
Net Income
Individual earnings after taxes, garnishments and contributions
An individual's income before taxes and adjustments
Check
Cash
Paper check issued to employer at the end of the pay period
Depositing payroll checks directly into employee's checking or savings account
Computerised cash payments system that transfers funds without the use of checks, currency or paper documents
Automatic Check Deposit
Cash
Paper check issued to employer at the end of the pay period
Depositing payroll checks directly into employee's checking or savings account
Computerised cash payments system that transfers funds without the use of checks, currency or paper documents
Electronic Funds Transfer
Cash
Paper check issued to employer at the end of the pay period
Depositing payroll checks directly into employee's checking or savings account
Computerised cash payments system that transfers funds without the use of checks, currency or paper documents
Payroll Register
Record of commission an employee earns
An accounting form that summarises earnings, deductions and net pay of all employees for one pay period
Form that shows deduction of taxes
A business form used to record details of an employee's earnings and deductions
Employee Earnings Record
Record of commission an employee earns
An accounting form that summarises earnings, deductions and net pay of all employees for one pay period
Form that shows deduction of taxes
A business form used to record details of an employee's earnings and deductions
Commissions Record
Record of commission an employee earns
An accounting form that summarises earnings, deductions and net pay of all employees for one pay period
Form that shows deduction of taxes
A business form used to record details of an employee's earnings and deductions
What does FICA stand for?
Financial Insurance Contributions Act
Financial Insurance Community Act
Federal Income Contributions Act
Federal Insurance Contributions Act
Which of these payroll deductions is a legal requirement?
Health Insurance
Retirement Plan
Federal Income Tax
Union Dues
The total earnings, marital status and number of withholding allowances claimed by an employee determines the federal income tax amount to be withheld.
True
False
The taxes withheld from the earnings of a single individual is less that those withheld from married individuals.
True
False
