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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
Medicare
B
Net Pay
C
Gross
D
Deductions
2) the total amount of money earned during a pay period before deductions
A
FICA
B
Gross Pay
C
IRS
D
Net Pay
3) they collect federal taxes, issue regulations, and reinforce tax laws written by the United States Congress
A
IRS
B
FED
C
NCUS
D
FDIC
4) these are compulsory charges imposed on citizens by local, state, and federal government
A
FDIC
B
IRS
C
Taxes
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
Deductions
C
Gross pay
D
Taxes
6) Pay before you take out taxes
A
Gross pay
B
Taxes
C
All
D
Net Pay
7) Pay after you take out taxes
A
Net Pay
B
FED
C
Taxes
D
Gross pay
8) the is the nation's health care policy for elderly and disabled
A
FDIC
B
Dependent
C
Medicare
D
State
9) this withholding tax is the largest deduction withheld from an employee's gross income
A
Net Pay
B
Federal
C
State
D
Social Security
10) this is the nation's retirement program
A
Social Security
B
Gross Pay
C
Deductions
D
Federal Taxes
*select an answer for all questions
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