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Med Admin
Question | Answer |
---|---|
If an employee’s paycheck is made out for $300, what would his net earnings be? | $300 |
Which of the following does the Fair Labor Standards Act primarily affect? | employees who earn hourly wage |
Generally an employer must pay what percent of FUTA tax, which is applied to the first $7000 of the employee’s income for a year, if employees’ wages total more than $1500 in any quarter. | 6.2% |
Which of the following is mandated for hourly employees by the Fair Labor Standards Act? | time and a half for all hours worked beyond the normal 8 hours in a regular workday |
Which of the following statements applies to an electronic funds transfer system (EFTS)? | The employee does not have to worry about losing the paycheck. |
On which form will the number of dependents an employee is claiming, for tax purposes, be found? | form w-4 |
A person named as a dependent is ________ | a person who is financially dependent on the employee |
What is the term for the total amount of income earned by an employee before deductions are subtracted? | gross earnings |
An employee payroll information sheet should include ________ | the employee's Social Security number |
Payment of a set amount of money per pay period, regardless of the number of hours worked, is ________ | salary |
Another name for the Employer's Quarterly Federal Tax Return is ________ | form 941 |
An example of a required deduction from an employee's paycheck is ________ | FICA tax |
If an employee earns $8 per hour and works 35 hours per week, the employee's gross weekly earnings are ________ | $280 |
Which of the following summarizes the federal income and FICA taxes withheld from employees' paychecks? | employers quarterly federal tax return |
The tax in which one-half is paid by the employer and the other half is withheld from the employee’s paycheck is ________ | fica |