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Accounting 2nd 9-Weeks Part 1
Test Description: Accounting 2nd 9-Weeks Part 1
Instructions: Answer all questions to get your test result.
1) The payment of payroll increases the __________ of a business.
A
assets
B
value
C
expenses
D
revenue
2) The amount of money actually received by the employee after all deductions are subtracted is called the _________.
A
gross earnings
B
gross pay
C
year-to-date earnings
D
net pay
3) Voluntary deductions include
A
federal income tax
B
FICA
C
state income tax
D
health insurance premiums
4) An employee paid 1 1/2 time the regular wage is paid at the
A
overtime rate
B
regular rate
C
weekend rate
D
holiday rate
5) The overtime rate is generally paid for all hours worked per week over _________.
A
20 hours
B
40 hours
C
35 hours
D
50 hours
6) The total amount earned by the employee in a pay period
A
year-to-date earnings
B
net pay
C
gross earnings
D
overtime earanings
7) The form that employees complete to declare the number of exemptions claimed is
A
1099
B
W-4
C
W-2
D
W-9
8) Fixed amount of money paid to an employee each pay period
A
wage
B
overtime
C
commission
D
salary
9) Amount subtracted from gross earnings
A
commission
B
net pay
C
deductions
D
overtime
10) The amount of money paid to employees at a specific rate per hour
A
Commission
B
Overtime
C
Wage
D
Salary
*select an answer for all questions
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