PF 4.01 Question Preview (ID: 15230)


4.01 Questions And Vocab. TEACHERS: click here for quick copy question ID numbers.

Blake works forty hours a week and earns a set amount of wage per hour. What type of wage is this?
a) Full-time
b) Part-time
c) Flexible/seasonal
d) Overtime

The book salesman earned 10% of the purchase value of every book he sold. What form of monetary compensation is this?
a) Commission
b) Gratutity
c) Salary
d) Wage

Ben’s receives his pay every month with a stub showing pay deductions and takes it to the bank to deposit. What form of payment for work is this?
a) Direct deposit
b) Monthly paycheck
c) Weekly paycheck
d) Payroll card

Janet received from her employer in January a form showing all of her salary income for the past year. What type of form is this?
a) Form 1040
b) Form 1099
c) W-2
d) W-4

Sharon’s husband divorced her and left her alone to care for their three children three years ago. What is Sharon’s filing status?
a) Single
b) Married filing a joint return
c) Married
d) Married filing a separate return

What is the definition of gross pay?
a) A set amount of money paid for a set period of time worked.
b) The amount of money left after all the deductions have been taken from the gross pay earned in the p
c) The amount of money paid for a specified quantity of labor.
d) The total amount of money earned during the pay period before deductions.

What is the definition of net pay?
a) Money paid by customers to those who provide services.
b) The amount of money left after all the deductions have been taken from the gross pay earned in the p
c) The total amount of money earned during the pay period before deductions.
d) The total amount of money earned during the pay period before deductions.

What is a W-2 form
a) They impose a higher tax rate on those with lower incomes than those with higher
b) Employment Eligibility Verification Form---the information on this form is for employers to verify t
c) States the amount of money earned and taxes paid throughout the previous year
d) An employee’s withholding certificate---the information provided on this form determines the percent

What is a wage?
a) The amount of money paid for a specified quantity of labor.
b) A set amount of money paid for a set period of time worked.
c) Income paid as a percentage of sales made by a salesman
d) Money paid in addition to base pay, either as a reward for performance or as a share of profit.

What is an I-9 form?
a) An employee’s withholding certificate---the information provided on this form determines the percent
b) Employment Eligibility Verification Form---the information on this form is for employers to verify t
c) States the amount of money earned and taxes paid throughout the previous year
d) A compulsory charge imposed on citizens by local, state, or federal governments.

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