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Paycheck
Test Description: Paycheck
Instructions: Answer all questions to get your test result.
1) the amount of money left after all deductions have been withheld from the gross pay earned in the pay period
A
Net Pay
B
Gross
C
Deductions
D
Medicare
2) the total amount of money earned during a pay period before deductions
A
IRS
B
Net Pay
C
Gross Pay
D
FICA
3) they collect federal taxes, issue regulations, and reinforce tax laws written by the United States Congress
A
NCUS
B
IRS
C
FDIC
D
FED
4) these are compulsory charges imposed on citizens by local, state, and federal government
A
IRS
B
Taxes
C
FDIC
D
Deductions
5) the amount of money subtracted from the gross pay earned for mandatory systematic taxes, employee sponsored medical benefits, and or retirement benefits
A
W-2
B
Taxes
C
Deductions
D
Gross pay
6) Pay before you take out taxes
A
Gross pay
B
Net Pay
C
Taxes
D
All
7) Pay after you take out taxes
A
Net Pay
B
FED
C
Gross pay
D
Taxes
8) the is the nation's health care policy for elderly and disabled
A
State
B
Medicare
C
Dependent
D
FDIC
9) this withholding tax is the largest deduction withheld from an employee's gross income
A
Federal
B
Social Security
C
Net Pay
D
State
10) this is the nation's retirement program
A
Federal Taxes
B
Gross Pay
C
Social Security
D
Deductions
*select an answer for all questions
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