WorksheetsReading and Understanding Paystubs
Total questions: 16
Worksheet time: 10mins
A pay period or pay schedule for employees is determined by the
employee.
government.
employer
None of the above.
The most common pay schedule used by businesses are
monthly.
semi-monthly.
weekly or biweekly.
All of the above.
Employees that are in management positions often
are paid hourly.
earn a salary.
are paid once a earn.
All of the above.
Common deductions made to employees’ wages are
health and dental insurance.
state and federal taxes.
FICA, social security, and retirement.
All of the above.
The amount on your paycheck in which all deductions have been made will represent your
gross pay.
net pay.
Deductions.
All of the above.
Being able to read a paystub is important because it will tell you
if you were paid correctly and what deductions were made.
who is the boss.
how much you have saved for retirement.
All of the above.
The percentage of a person’s pay that is deducted for FICA-Social Security is
1%
3%
6.2%
10%
The percentage of a person’s pay that is deducted for FICA-Medicare is
0 %
1.45%
5%
10%
A worker’s wages are most often based on how many hours a person works and the hourly wage or pay scale they receive.
True
False
Not all employees are paid an hourly wage, some employees receive a salary.
True
False
Rarely are deductions made from employees’ pay or wages.
True
False
FICA-Social Security and Medicare are taxes imposed on both employees and employers to fund programs that provide benefits for retirees, the disabled, and children of deceased workers.
True
False
The amount of state and federal income tax that is deducted from your wages depends on your income level and filing status.
True
False
Fewer and fewer employees are required to contribute to paying for their health insurance.
True
False
Match the words with their correct definitions.
_____________ is a fixed regular payment based upon an agreed amount between the employer and employee.
Salary
___________ is the payment of money for labor or services performed.
Wages
__________ is the time period in which an employee worked and is being paid for.
Pay period
___________ is the amount you receive after all deductions are made from your total earnings.
Net pay
Match the following words to their correct definitions
______ is any amount of money subtracted from your check.
Deductin
________ is the total amount of your pay, before deductions are made.
Gross Pay
________ explains how much you earned, how much you pay in taxes, and other monies that were deducted.
Paystub
