Accounting 2nd 9-Weeks Part 1: Question Preview (ID: 7893)

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The payment of payroll increases the __________ of a business.
a) value
b) assets
c) expenses
d) revenue

The amount of money actually received by the employee after all deductions are subtracted is called the _________.
a) gross earnings
b) gross pay
c) net pay
d) year-to-date earnings

Voluntary deductions include
a) state income tax
b) federal income tax
c) health insurance premiums

An employee paid 1 1/2 time the regular wage is paid at the
a) regular rate
b) holiday rate
c) weekend rate
d) overtime rate

The overtime rate is generally paid for all hours worked per week over _________.
a) 40 hours
b) 35 hours
c) 20 hours
d) 50 hours

The total amount earned by the employee in a pay period
a) net pay
b) gross earnings
c) year-to-date earnings
d) overtime earanings

The form that employees complete to declare the number of exemptions claimed is
a) W-2
b) W-4
c) W-9
d) 1099

Fixed amount of money paid to an employee each pay period
a) overtime
b) wage
c) commission
d) salary

Amount subtracted from gross earnings
a) commission
b) overtime
c) deductions
d) net pay

The amount of money paid to employees at a specific rate per hour
a) Wage
b) Salary
c) Commission
d) Overtime

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